What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000_老虎社区_美港股上老虎

What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000

cnbc2021-06-09

The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...

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deeplearning
·2021-06-09
Hodl
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jk1209
·2021-06-09
Keep watching
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SaveHK
·2021-06-09
Buy low and sell high. Bitcoin all the way to the moon.🚀🚀🚀 Safemoon all the way 🎊🎉💥🤩😍🥰
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- YQ17:
  Ye….agreed
  2021-06-09
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Tongdadd
·2021-06-09
Is this the end for Crypto?
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1
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- MorphyInc:
  CrYpto is here to stay, just dont know which 1
  2021-06-09
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- Tongdadd:
  Definitely one of the main ones like BTC, ETH and BNB
  2021-06-15
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Miracle99
·2021-06-09
Hmmm...what will happen next?
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- Ericlam:
  Nice
  2021-06-09
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许哲东
·2021-06-09
Is a chance to collect? like comment please
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- Mr小白:
  [呆住]
  2021-06-09
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Ericlam
·2021-06-09
Not in bitcoin
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- HillaryV:
  Like
  2021-06-09
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- Acella:
  😀
  2021-06-09
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- Ericlam:
  Nice
  2021-06-09
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yao2159
·2021-06-09
😱
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3
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IAmThankful
·2021-06-09
[What]
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Kelvin17
·2021-06-09
Like and comment pls
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1
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atf_nato
·2021-06-09
[Glance] [Smug] [Drowsy]
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2
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- atf_nato:
  [Miser]
  2021-07-03
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- atf_nato:
  🤭
  2021-06-29
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- atf_nato:
  🤭
  2021-06-13
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Bgsmuse
·2021-06-09
Like and comment please!
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- KK2021:
  pls comment and like
  2021-06-09
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- Bgsmuse:
  Thanks!
  2021-06-09
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- Bgsmuse:
  Cool
  2021-06-09
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Bossiwei
·2021-06-09
Ok
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1
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- SSVC:
  [强]
  2021-06-09
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SSVC
·2021-06-09
Yeah Appreciate your comments and response Thanks
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3
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- Bossiwei:
  Ok
  2021-06-09
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- SSVC:
  [强][握手]
  2021-06-09
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- GabrielOr:
  ok
  2021-06-09
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HappyTrader
·2021-06-09
Like and comment pls
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1
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- Stoinkz:
  commented
  2021-06-09
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HappyTrader
·2021-06-09
Like and comment pls
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eksdyaw9
·2021-06-09
Please like and comment
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2
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- SimonChan:
  Ok, pls helep me too. Thanks
  2021-06-09
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- eksdyaw9:
  Done. Please reply again...
  2021-06-09
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- SimonChan:
  Ok 👌🏻
  2021-06-09
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BruceInvests
·2021-06-09
Like & comment for Tiger coins, will reply 👍🏻
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2
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- MoneyCub:
  Pls comment back.
  2021-06-09
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- JoshTan:
  Thanks!
  2021-06-09
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- BruceInvests:
  👍🏻
  2021-06-09
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MoneyCub
·2021-06-09
Pls like n comment.
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4
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- eksdyaw9:
  Done please like and reply...
  2021-06-09
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itradeidream
·2021-06-09
All cleared and waiting to enter again. 20k sounds like a good entry pt
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It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GBTC","symbol_name":"Grayscale Bitcoin Trust","start_time":0,"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","article_id":"1160645804","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","pubTimestamp":1623195514,"columns":[],"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"translate_title":"比特币下跌的真正原因是什么？为什么这种加密货币能跌至2万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GBTC":0.9},"content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. 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It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180856615,"gmtCreate":1623199541437,"gmtModify":1634035932706,"author":{"id":"3584442699448163","authorId":"3584442699448163","name":"jk1209","avatar":"https://static.tigerbbs.com/11a01b29d15be1ff0b2aa958f095117b","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3584442699448163","authorIdStr":"3584442699448163"},"htmlText":"Keep watching&nbsp;","listText":"Keep watching&nbsp;","text":"Keep watching","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180856615","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180880044,"gmtCreate":1623198238988,"gmtModify":1634035962484,"author":{"id":"3570678493691973","authorId":"3570678493691973","name":"SaveHK","avatar":"https://static.tigerbbs.com/89b74f5799a23844400ed6de94296d38","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3570678493691973","authorIdStr":"3570678493691973"},"htmlText":"Buy low and sell high. Bitcoin all the way to the moon.🚀🚀🚀 Safemoon all the way 🎊🎉💥🤩😍🥰","listText":"Buy low and sell high. Bitcoin all the way to the moon.🚀🚀🚀 Safemoon all the way 🎊🎉💥🤩😍🥰","text":"Buy low and sell high. Bitcoin all the way to the moon.🚀🚀🚀 Safemoon all the way 🎊🎉💥🤩😍🥰","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180880044","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4641015,"gmtCreate":1623198930890,"gmtModify":1635331543773,"authorId":3579605390417452,"author":{"id":3579605390417452,"idStr":"3579605390417452","authorId":3579605390417452,"name":"YQ17","avatar":"https://static.tigerbbs.com/27a39a8720408cb33a5ee4fb46fdc580","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180880044,"type":1,"supId":0,"prevId":0,"content":"Ye….agreed","text":"Ye….agreed","html":"Ye….agreed"}],"langContent":"EN"},{"id":180817418,"gmtCreate":1623198230234,"gmtModify":1634035962727,"author":{"id":"3563665738915585","authorId":"3563665738915585","name":"Tongdadd","avatar":"https://static.tigerbbs.com/79e519b2023d6e7e3b68e295f81f3e8e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3563665738915585","authorIdStr":"3563665738915585"},"htmlText":"Is this the end for Crypto?&nbsp;","listText":"Is this the end for Crypto?&nbsp;","text":"Is this the end for Crypto?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/180817418","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4641464,"gmtCreate":1623199922234,"gmtModify":1635331495890,"authorId":3575256884333459,"author":{"id":3575256884333459,"idStr":"3575256884333459","authorId":3575256884333459,"name":"MorphyInc","avatar":"https://static.tigerbbs.com/8fa62407baa49ccbcbca7d374aa8a803","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180817418,"type":1,"supId":0,"prevId":0,"content":"CrYpto is here to stay, just dont know which 1","text":"CrYpto is here to stay, just dont know which 1","html":"CrYpto is here to stay, just dont know which 1"},{"id":4763763,"gmtCreate":1623732486240,"gmtModify":1635320648751,"authorId":3563665738915585,"author":{"id":3563665738915585,"idStr":"3563665738915585","authorId":3563665738915585,"name":"Tongdadd","avatar":"https://static.tigerbbs.com/79e519b2023d6e7e3b68e295f81f3e8e","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180817418,"type":1,"supId":4641464,"prevId":0,"content":"Definitely one of the main ones like BTC, ETH and <u>BNB</u>","text":"Definitely one of the main ones like BTC, ETH and <u>BNB</u>","html":"Definitely one of the main ones like BTC, ETH and <u>BNB</u>"}],"langContent":"EN"},{"id":180813425,"gmtCreate":1623198017867,"gmtModify":1634035969247,"author":{"id":"3581573678394869","authorId":"3581573678394869","name":"Miracle99","avatar":"https://static.tigerbbs.com/1cfacd38670cd13d8111d4ffe2d88a3f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581573678394869","authorIdStr":"3581573678394869"},"htmlText":"Hmmm...what will happen next?&nbsp;","listText":"Hmmm...what will happen next?&nbsp;","text":"Hmmm...what will happen next?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180813425","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640666,"gmtCreate":1623198097821,"gmtModify":1635331579538,"authorId":3559787818034959,"author":{"id":3559787818034959,"idStr":"3559787818034959","authorId":3559787818034959,"name":"Ericlam","avatar":"https://static.tigerbbs.com/f2154f4bb8afd22f8e6fde60b57acb69","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180813425,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"},{"id":180832637,"gmtCreate":1623197772529,"gmtModify":1634035974540,"author":{"id":"3555237785078725","authorId":"3555237785078725","name":"许哲东","avatar":"https://static.tigerbbs.com/9061503cb3d4f9ac3d7d9de3f72b29ab","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3555237785078725","authorIdStr":"3555237785078725"},"htmlText":"Is a chance to collect? like comment please","listText":"Is a chance to collect? like comment please","text":"Is a chance to collect? like comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180832637","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640577,"gmtCreate":1623197879868,"gmtModify":1635331589458,"authorId":3561677110311504,"author":{"id":3561677110311504,"idStr":"3561677110311504","authorId":3561677110311504,"name":"Mr小白","avatar":"https://static.tigerbbs.com/6254bbf8c65e8c668db8db59c22ae5d7","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180832637,"type":1,"supId":0,"prevId":0,"content":"[呆住]","text":"[呆住]","html":"[呆住]"}],"langContent":"EN"},{"id":180838308,"gmtCreate":1623197712904,"gmtModify":1634035976686,"author":{"id":"3559787818034959","authorId":"3559787818034959","name":"Ericlam","avatar":"https://static.tigerbbs.com/f2154f4bb8afd22f8e6fde60b57acb69","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3559787818034959","authorIdStr":"3559787818034959"},"htmlText":"Not in bitcoin","listText":"Not in bitcoin","text":"Not in bitcoin","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/180838308","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4641109,"gmtCreate":1623199152454,"gmtModify":1635331534190,"authorId":3566190997597521,"author":{"id":3566190997597521,"idStr":"3566190997597521","authorId":3566190997597521,"name":"HillaryV","avatar":"https://static.tigerbbs.com/a5e41a8432102fa946fee83eeb1384d7","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180838308,"type":1,"supId":0,"prevId":0,"content":"Like","text":"Like","html":"Like"},{"id":4642108,"gmtCreate":1623201368633,"gmtModify":1635331427769,"authorId":3563150446821026,"author":{"id":3563150446821026,"idStr":"3563150446821026","authorId":3563150446821026,"name":"Acella","avatar":"https://static.tigerbbs.com/2712c4bb0bfbec4d2773e012189db3bc","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180838308,"type":1,"supId":0,"prevId":0,"content":"😀","text":"😀","html":"😀"},{"id":4644671,"gmtCreate":1623211662383,"gmtModify":1635331175370,"authorId":3559787818034959,"author":{"id":3559787818034959,"idStr":"3559787818034959","authorId":3559787818034959,"name":"Ericlam","avatar":"https://static.tigerbbs.com/f2154f4bb8afd22f8e6fde60b57acb69","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180838308,"type":1,"supId":4642108,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":4644673,"gmtCreate":1623211672953,"gmtModify":1635331175124,"authorId":3559787818034959,"author":{"id":3559787818034959,"idStr":"3559787818034959","authorId":3559787818034959,"name":"Ericlam","avatar":"https://static.tigerbbs.com/f2154f4bb8afd22f8e6fde60b57acb69","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180838308,"type":1,"supId":4641109,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"},{"id":4644807,"gmtCreate":1623212275672,"gmtModify":1635331161223,"authorId":3585792602279221,"author":{"id":3585792602279221,"idStr":"3585792602279221","authorId":3585792602279221,"name":"Mrckjh","avatar":"https://static.tigerbbs.com/a912145994218d48f3f0430935aa1b13","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180838308,"type":1,"supId":0,"prevId":0,"content":"to the <u>moon</u>","text":"to the <u>moon</u>","html":"to the <u>moon</u>"}],"langContent":"EN"},{"id":180839082,"gmtCreate":1623197590846,"gmtModify":1634035978907,"author":{"id":"3585625672818511","authorId":"3585625672818511","name":"yao2159","avatar":"https://static.tigerbbs.com/372cb7a6b0eb470c394c99cd89e8e487","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585625672818511","authorIdStr":"3585625672818511"},"htmlText":"😱","listText":"😱","text":"😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180839082","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180894026,"gmtCreate":1623197501365,"gmtModify":1634035981364,"author":{"id":"3572176137415007","authorId":"3572176137415007","name":"IAmThankful","avatar":"https://static.tigerbbs.com/70c6aad0b12d9421dbbed3a0b64ed057","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3572176137415007","authorIdStr":"3572176137415007"},"htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180894026","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180895612,"gmtCreate":1623197482336,"gmtModify":1634035981849,"author":{"id":"3581651271010576","authorId":"3581651271010576","name":"Kelvin17","avatar":"https://static.tigerbbs.com/5ad690dc5b75f93cb92a855c9ee59cee","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581651271010576","authorIdStr":"3581651271010576"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180895612","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180893811,"gmtCreate":1623197317533,"gmtModify":1631889589558,"author":{"id":"3570914862018043","authorId":"3570914862018043","name":"atf_nato","avatar":"https://static.tigerbbs.com/feb6626b5797e1473cb517200064728c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3570914862018043","authorIdStr":"3570914862018043"},"htmlText":"[Glance]&nbsp;[Smug]&nbsp;[Drowsy]&nbsp;","listText":"[Glance]&nbsp;[Smug]&nbsp;[Drowsy]&nbsp;","text":"[Glance] [Smug] [Drowsy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180893811","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5106667,"gmtCreate":1625254529700,"gmtModify":1631889589585,"authorId":3570914862018043,"author":{"id":3570914862018043,"idStr":"3570914862018043","authorId":3570914862018043,"name":"atf_nato","avatar":"https://static.tigerbbs.com/feb6626b5797e1473cb517200064728c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180893811,"type":1,"supId":0,"prevId":0,"content":" [Miser]","text":" [Miser]","html":" [Miser]"},{"id":5061207,"gmtCreate":1624928219635,"gmtModify":1631889589571,"authorId":3570914862018043,"author":{"id":3570914862018043,"idStr":"3570914862018043","authorId":3570914862018043,"name":"atf_nato","avatar":"https://static.tigerbbs.com/feb6626b5797e1473cb517200064728c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180893811,"type":1,"supId":0,"prevId":0,"content":"🤭","text":"🤭","html":"🤭"},{"id":4715832,"gmtCreate":1623534063486,"gmtModify":1631889589558,"authorId":3570914862018043,"author":{"id":3570914862018043,"idStr":"3570914862018043","authorId":3570914862018043,"name":"atf_nato","avatar":"https://static.tigerbbs.com/feb6626b5797e1473cb517200064728c","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180893811,"type":1,"supId":0,"prevId":0,"content":"🤭","text":"🤭","html":"🤭"}],"langContent":"EN"},{"id":180807870,"gmtCreate":1623197221490,"gmtModify":1634035988301,"author":{"id":"3582499033746483","authorId":"3582499033746483","name":"Bgsmuse","avatar":"https://static.tigerbbs.com/bf5388b3043ce43e90eca04fbde2bf28","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3582499033746483","authorIdStr":"3582499033746483"},"htmlText":"Like and comment please!","listText":"Like and comment please!","text":"Like and comment please!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/180807870","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640390,"gmtCreate":1623197436276,"gmtModify":1635331607529,"authorId":3575143606799200,"author":{"id":3575143606799200,"idStr":"3575143606799200","authorId":3575143606799200,"name":"KK2021","avatar":"https://static.tigerbbs.com/e57decb2950e37ceb12176c97c9be2c4","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180807870,"type":1,"supId":0,"prevId":0,"content":"pls comment and <u>like</u>","text":"pls comment and <u>like</u>","html":"pls comment and <u>like</u>"},{"id":4646252,"gmtCreate":1623221222606,"gmtModify":1635331023638,"authorId":3582499033746483,"author":{"id":3582499033746483,"idStr":"3582499033746483","authorId":3582499033746483,"name":"Bgsmuse","avatar":"https://static.tigerbbs.com/bf5388b3043ce43e90eca04fbde2bf28","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180807870,"type":1,"supId":4640390,"prevId":0,"content":"Thanks!","text":"Thanks!","html":"Thanks!"},{"id":4646303,"gmtCreate":1623221497482,"gmtModify":1635331018651,"authorId":3582499033746483,"author":{"id":3582499033746483,"idStr":"3582499033746483","authorId":3582499033746483,"name":"Bgsmuse","avatar":"https://static.tigerbbs.com/bf5388b3043ce43e90eca04fbde2bf28","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180807870,"type":1,"supId":0,"prevId":0,"content":"Cool","text":"Cool","html":"Cool"},{"id":4646305,"gmtCreate":1623221510443,"gmtModify":1635331018530,"authorId":3582499033746483,"author":{"id":3582499033746483,"idStr":"3582499033746483","authorId":3582499033746483,"name":"Bgsmuse","avatar":"https://static.tigerbbs.com/bf5388b3043ce43e90eca04fbde2bf28","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180807870,"type":1,"supId":4646303,"prevId":0,"content":"Cool","text":"Cool","html":"Cool"},{"id":4656868,"gmtCreate":1623282723378,"gmtModify":1635330194199,"authorId":3575143606799200,"author":{"id":3575143606799200,"idStr":"3575143606799200","authorId":3575143606799200,"name":"KK2021","avatar":"https://static.tigerbbs.com/e57decb2950e37ceb12176c97c9be2c4","vip":1,"crmLevel":9,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":3582499033746483,"repliedAuthor":{"id":3582499033746483,"idStr":"3582499033746483","authorId":3582499033746483,"name":"Bgsmuse","avatar":"https://static.tigerbbs.com/bf5388b3043ce43e90eca04fbde2bf28","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"objectId":180807870,"type":1,"supId":4640390,"prevId":4646252,"content":"pls comment and like","text":"pls comment and like","html":"pls comment and like"}],"langContent":"EN"},{"id":180808676,"gmtCreate":1623197011995,"gmtModify":1634035992648,"author":{"id":"3574922071165793","authorId":"3574922071165793","name":"Bossiwei","avatar":"https://static.tigerbbs.com/dfbc991d17c0826fbf583dc8682e96d3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574922071165793","authorIdStr":"3574922071165793"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180808676","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640340,"gmtCreate":1623197319765,"gmtModify":1635331612603,"authorId":3574906731000207,"author":{"id":3574906731000207,"idStr":"3574906731000207","authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180808676,"type":1,"supId":0,"prevId":0,"content":" [强]","text":" [强]","html":" [强]"}],"langContent":"EN"},{"id":180809553,"gmtCreate":1623196919972,"gmtModify":1634035995238,"author":{"id":"3574906731000207","authorId":"3574906731000207","name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574906731000207","authorIdStr":"3574906731000207"},"htmlText":"Yeah Appreciate your comments and response Thanks&nbsp;","listText":"Yeah Appreciate your comments and response Thanks&nbsp;","text":"Yeah Appreciate your comments and response Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180809553","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640263,"gmtCreate":1623197018015,"gmtModify":1635331619861,"authorId":3574922071165793,"author":{"id":3574922071165793,"idStr":"3574922071165793","authorId":3574922071165793,"name":"Bossiwei","avatar":"https://static.tigerbbs.com/dfbc991d17c0826fbf583dc8682e96d3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180809553,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"},{"id":4640331,"gmtCreate":1623197283393,"gmtModify":1635331613345,"authorId":3574906731000207,"author":{"id":3574906731000207,"idStr":"3574906731000207","authorId":3574906731000207,"name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180809553,"type":1,"supId":0,"prevId":0,"content":"[强][握手]","text":"[强][握手]","html":"[强][握手]"},{"id":4642534,"gmtCreate":1623202448050,"gmtModify":1635331384649,"authorId":3570241401388332,"author":{"id":3570241401388332,"idStr":"3570241401388332","authorId":3570241401388332,"name":"GabrielOr","avatar":"https://static.tigerbbs.com/95dd3c0f7679a76d0310824220d86489","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180809553,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"}],"langContent":"EN"},{"id":180800072,"gmtCreate":1623196857096,"gmtModify":1634035996530,"author":{"id":"3575928962971398","authorId":"3575928962971398","name":"HappyTrader","avatar":"https://static.tigerbbs.com/9e17ecdf632628b1622a479d94145d9a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575928962971398","authorIdStr":"3575928962971398"},"htmlText":"Like and comment pls&nbsp;","listText":"Like and comment pls&nbsp;","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180800072","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640351,"gmtCreate":1623197345859,"gmtModify":1635331611404,"authorId":3567821146661353,"author":{"id":3567821146661353,"idStr":"3567821146661353","authorId":3567821146661353,"name":"Stoinkz","avatar":"https://static.tigerbbs.com/57bb0d10a9b43a26fb9bc3e3bc4ae031","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180800072,"type":1,"supId":0,"prevId":0,"content":"<u>commented</u>","text":"<u>commented</u>","html":"<u>commented</u>"}],"langContent":"EN"},{"id":180174176,"gmtCreate":1623196799695,"gmtModify":1634035998124,"author":{"id":"3575928962971398","authorId":"3575928962971398","name":"HappyTrader","avatar":"https://static.tigerbbs.com/9e17ecdf632628b1622a479d94145d9a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575928962971398","authorIdStr":"3575928962971398"},"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180174176","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":180175528,"gmtCreate":1623196785764,"gmtModify":1634035998487,"author":{"id":"3571885817800341","authorId":"3571885817800341","name":"eksdyaw9","avatar":"https://static.tigerbbs.com/8ba3af3398674605aac2c66830e4426a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3571885817800341","authorIdStr":"3571885817800341"},"htmlText":"Please like and comment","listText":"Please like and comment","text":"Please like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/180175528","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640214,"gmtCreate":1623196861260,"gmtModify":1635331624739,"authorId":3572212448091017,"author":{"id":3572212448091017,"idStr":"3572212448091017","authorId":3572212448091017,"name":"SimonChan","avatar":"https://static.tigerbbs.com/9becd538a97d2ba19c33053c87e741cf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180175528,"type":1,"supId":0,"prevId":0,"content":"Ok, pls helep me too. Thanks ","text":"Ok, pls helep me too. Thanks ","html":"Ok, pls helep me too. Thanks "},{"id":4640278,"gmtCreate":1623197094174,"gmtModify":1635331618288,"authorId":3571885817800341,"author":{"id":3571885817800341,"idStr":"3571885817800341","authorId":3571885817800341,"name":"eksdyaw9","avatar":"https://static.tigerbbs.com/8ba3af3398674605aac2c66830e4426a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180175528,"type":1,"supId":4640214,"prevId":0,"content":"Done. Please reply again...","text":"Done. Please reply again...","html":"Done. Please reply again..."},{"id":4644814,"gmtCreate":1623212319729,"gmtModify":1635331160729,"authorId":3572212448091017,"author":{"id":3572212448091017,"idStr":"3572212448091017","authorId":3572212448091017,"name":"SimonChan","avatar":"https://static.tigerbbs.com/9becd538a97d2ba19c33053c87e741cf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180175528,"type":1,"supId":4640214,"prevId":0,"content":"Ok 👌🏻","text":"Ok 👌🏻","html":"Ok 👌🏻"}],"langContent":"EN"},{"id":180170424,"gmtCreate":1623196580568,"gmtModify":1634036003775,"author":{"id":"3561411454660142","authorId":"3561411454660142","name":"BruceInvests","avatar":"https://static.tigerbbs.com/10405fa513601c345286a388991d53d8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3561411454660142","authorIdStr":"3561411454660142"},"htmlText":"Like &amp; comment for Tiger coins, will reply 👍🏻","listText":"Like &amp; comment for Tiger coins, will reply 👍🏻","text":"Like & comment for Tiger coins, will reply 👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/180170424","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640091,"gmtCreate":1623196597124,"gmtModify":1635331637508,"authorId":3559862059870297,"author":{"id":3559862059870297,"idStr":"3559862059870297","authorId":3559862059870297,"name":"MoneyCub","avatar":"https://static.tigerbbs.com/1f4ae708d214afbc1b0b1f68ecc65c7e","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180170424,"type":1,"supId":0,"prevId":0,"content":"Pls comment back.","text":"Pls comment back.","html":"Pls comment back."},{"id":4640164,"gmtCreate":1623196739236,"gmtModify":1635331629783,"authorId":3566284087239794,"author":{"id":3566284087239794,"idStr":"3566284087239794","authorId":3566284087239794,"name":"JoshTan","avatar":"https://static.tigerbbs.com/4fe467cbf014ef28af269640392df91a","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180170424,"type":1,"supId":0,"prevId":0,"content":"Thanks!","text":"Thanks!","html":"Thanks!"},{"id":4646964,"gmtCreate":1623226077811,"gmtModify":1635330962318,"authorId":3561411454660142,"author":{"id":3561411454660142,"idStr":"3561411454660142","authorId":3561411454660142,"name":"BruceInvests","avatar":"https://static.tigerbbs.com/10405fa513601c345286a388991d53d8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180170424,"type":1,"supId":4640164,"prevId":0,"content":"👍🏻","text":"👍🏻","html":"👍🏻"},{"id":4646971,"gmtCreate":1623226087401,"gmtModify":1635330961457,"authorId":3561411454660142,"author":{"id":3561411454660142,"idStr":"3561411454660142","authorId":3561411454660142,"name":"BruceInvests","avatar":"https://static.tigerbbs.com/10405fa513601c345286a388991d53d8","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180170424,"type":1,"supId":4640091,"prevId":0,"content":"👍🏻","text":"👍🏻","html":"👍🏻"}],"langContent":"EN"},{"id":180147506,"gmtCreate":1623196565605,"gmtModify":1634036004809,"author":{"id":"3559862059870297","authorId":"3559862059870297","name":"MoneyCub","avatar":"https://static.tigerbbs.com/1f4ae708d214afbc1b0b1f68ecc65c7e","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3559862059870297","authorIdStr":"3559862059870297"},"htmlText":"Pls like n comment.","listText":"Pls like n comment.","text":"Pls like n comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180147506","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4640181,"gmtCreate":1623196768045,"gmtModify":1635331628204,"authorId":3571885817800341,"author":{"id":3571885817800341,"idStr":"3571885817800341","authorId":3571885817800341,"name":"eksdyaw9","avatar":"https://static.tigerbbs.com/8ba3af3398674605aac2c66830e4426a","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":180147506,"type":1,"supId":0,"prevId":0,"content":"Done please like and reply...","text":"Done please like and reply...","html":"Done please like and reply..."}],"langContent":"EN"},{"id":180145558,"gmtCreate":1623196516174,"gmtModify":1634036006948,"author":{"id":"3570566515210361","authorId":"3570566515210361","name":"itradeidream","avatar":"https://static.tigerbbs.com/e1d43f55f7ea3ab4e2eaa61b1eeddbd0","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3570566515210361","authorIdStr":"3570566515210361"},"htmlText":"All cleared and waiting to enter again. 20k sounds like a good entry pt","listText":"All cleared and waiting to enter again. 20k sounds like a good entry pt","text":"All cleared and waiting to enter again. 20k sounds like a good entry pt","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/180145558","repostId":1160645804,"repostType":4,"repost":{"id":"1160645804","kind":"news","pubTimestamp":1623195514,"share":"https://www.laohu8.com/m/news/1160645804?lang=&edition=full","pubTime":"2021-06-09 07:38","market":"us","language":"en","title":"What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000","url":"https://stock-news.laohu8.com/highlight/detail?id=1160645804","media":"cnbc","summary":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight da","content":"<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's really behind the bitcoin decline and why it could take the cryptocurrency as low as $20,000\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-09 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/06/08/whats-really-behind-the-bitcoin-decline-and-why-it-could-take-the-cryptocurrency-as-low-as-20000.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1160645804","content_text":"The price of bitcoin fellabout 10% Tuesdayto around $32,000 and is on pace for its third straight day of losses, bringing most other cryptocurrency prices down with it. It’s down 50% from its April all-time high.Many are speculating the price moved on news that U.S. officialsrecovered most of the ransompaid to the Colonial Pipeline hackers.Analysts, however, say it’s more likely the movement is part of wider consolidation coming off highs from a month ago. In other words, the technical breakdown in the charts is driving the action and technical analysts see a possible bottom as low as $20,000 from here.Dave Keller from Sierra Alpha Research said in a market video update to clients that $30,000 is the support level to watch, and that bitcoin is a market in a clear downtrend.“Movement in any given day can be filled with noise and short-term action,” he said, but the chart “has transitioned from an uptrend phase to a downtrend phase,” citing lower highs, lower lows, breaking down through moving averages and breaking down through traditional support levels.Bitcoin - 6 monthsCoin MetricsEvercore ISI’s Rich Ross said the price of bitcoin could fall to $20,000 before rebounding again – if it doesn’t find support at $29,000. Ether has downside to $1,850  – $1,750 absent a rebound back above $3,000 soon, he said.‘Bad short-term chart’Carter Worth of Cornerstone Macro said it’s time to sell. He too said he sees the price of bitcoin falling to as low as $20,000, based on the head and shoulders trading pattern that’s currently forming, where price rises to a high and then falls to the price that was the base of the previous up-move.Bitcoin is in a key level of support today that could reach a bottom of 55% from its previous high of about $58,800, he added. There have been 11 declines in the bitcoin price of 30% or more since 2011, the average of them all being about 55%, Worth said.The cryptocurrency is up just 14% since the beginning of the year, though it’s 229% higher than its price this time a year ago.“Crypto is a good long-term story with a bad short-term chart,” Ross said. “As a student of price action alone, bitcoin is vulnerable short term, but investors should not view these short-term swings as validating or eroding the long term prospects for cryptocurrencies.”David Grider, Fundstrat’s lead digital asset strategist, said there’s some selling coming from negative press about the Colonial Pipeline hackers as well as governments worldwide considering how to regulate cryptocurrencies, though he said these are ultimately positive catalysts for cryptocurrencies. Because bitcoin operates on a public ledger, anyone can see the exact address to which the bitcoin ransom was sent, which is likely a failure on the part of the hackers and a blessing in disguise for law enforcement.Bitcoin - 6 months with 200-day moving averageCoin MetricsStill, Ross said the “rightful return of ransomed bitcoins is but a convenient excuse for a sell-off against the backdrop of an already weakened chart which broke below its 200-day moving average weeks ago and has displayed no urgency to reclaim it.”Grider also said some crypto investors are worrying this is a “mini bear market” like the one that followed the December 2017 highs. Really, he said, it’s a mid-market reset like the one that took place in mid-2017, though this one has been deeper and sharper because of some leverage factors. Specifically,leverage had been buildingover time but began unwinding in mid-April, with a second wave of liquidations in late May.“The crypto futures market wasn’t as large during the last bull market cycle as it is today, that has amplified the move this cycle” he said. “Investors who were around for the prior cycle are relating this drawdown to that December 2017 bear market start because of the size of the sell-off, but not considering how the market structure has changed or how the macro impacts the overall crypto market.”","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":73,"commentSize":28,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}