Key Takeaways
- Bitcoin’s (BTC) price trades below $115,000 leading to several market crashes as price could see more fall if the zone fails.
- Crypto experts and traders hint at strong bearish classic patter for Bitcoin as crypto market sentiment to the downside creates panic.
- Bitcoin failing to defend its price to the upside could eventually see a price crash to a lower price point of sub $100k.
Bitcoin (BTC) experienced a market crash from its high of $117,000 to a low of $112k as the price of BTC failed to protect it from crashing toward a lower price point, triggering several market liquidations and sparking speculation about the potential exhaustion of the price.
The price of BTC trading towards lower price points activated over $1.6 billion, wiping out these positions in the last few hours. If the price fails to demonstrate strong bullish price action to the upside, it could trade towards a lower price zone.
While the price of BTC struggles, altcoins such as Ethereum, Solana, and DOGE are not left out of the picture, as these altcoins and memecoin saw their market crash toward key points despite demonstrating strong bullish price action.
Although the price of DOGE has sparked significant bullish speculation due to its ETF approval and whales developing strong market interest in the memecoin ahead of a potential strong bullish rally towards a speculated high of $0.5 to $1.
What are crypto experts suggesting the price of BTC will do in the coming days or weeks as the price faces a market price decline?
BTC Market Sentiment Suggest More Decline
Following the recent market price crash of Bitcoin from a high of $117k to $112k, it suggests that the market could see an extended price decline, despite trading at such high levels, and is now facing a decline toward a key demand zone.
Suppose the price of BTC fails to reclaim its previous price action of $120k. In that case, there is strong speculation of a further price dump towards the low region, as the price of Bitcoin crashing into the sub- $ 100k region could trigger another price dump.
According to Ali Martinez, a crypto expert, on-chain analysis suggests a potential head and shoulders pattern, a classic bearish price action that typically indicates a downside move. If the price of Bitcoin trades above its pattern, we could see a price flip from bearish to bullish.
This could also boost the price of DOGE to the upside, considering the memecoin token has built one of the best price actions in previous days before market uncertainties led to a price crash.
FAQs
Bitcoin price today
BTC currently trades above $115,400 at the point of writing.
Can DOGE reach $1?
The possibility of the price reaching $1 is still realistic as the price of Dogecoin needs to break above previous highs of $0.73.
What will DOGE be worth in 5 years?
Speculation suggests the price could still trade around $1, but this will be dependent on the price trading above the previous high.
OL will hit $300 before the year ends, rather than for the price to trade around $1k.
Can Solana get to 10k?
This is highly unlikely at the moment, but we cannot rule out its potential in the future.
Related Read
Bitcoin Fails to Protect $117,000, Are Bulls Still in Control?
