• Crypto Lists
  • Bitcoin
  • Blockchain
  • ICO
  • Cryptocurrency
  • Altcoin
  • Advertise With Us
Newsletter
ItsBlockchain
  • Blockchain
  • Bitcoin
    featured

    A starter guide to Bitcoin Options trading

    Featured Image

    With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

    featured image

    Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

    featured image

    Why is Bitcoin a safe haven in a financial crisis

    featured image

    How to Make Money in Crypto When It Falls

    featured image

    Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

    featured image

    Top 5 Online Merchants That Accept Cryptocurrency

    featured image

    An account into Bitcoin Lightning Network Progress and other Scalability Solutions

    featured image

    Why Bitcoin [BTC] Could Fall to $5,000. Now that Halving is Done

    Trending Tags

    • Altcoin
    • Crypto Lists
    • Trade Signal
    • News
      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

      featured image

      Breaking : Crypto Trading is now legal in South Korea

      RBI to allow crypto trading

      Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

      featured image

      Steemit Joining TRON Ecosystem

      Reliance Jiocoin

      Reliance Jio is preparing for Jio Coin launch in 2020

      A $134 Million real estate has sold on ethereum blockchain

      A $134 Million real estate has sold on ethereum blockchain

      Hacking attacks on cryptocurrency exchanges

      Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

      Bithumb Launches in India

      Bithumb Global Launches in India

      US-China trade war effect on Bitcoin Price

      US-China trade war effect on Bitcoin Price

    • Crypto Market
    • Guide
    No Result
    View All Result
    • Blockchain
    • Bitcoin
      featured

      A starter guide to Bitcoin Options trading

      Featured Image

      With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

      featured image

      Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

      featured image

      Why is Bitcoin a safe haven in a financial crisis

      featured image

      How to Make Money in Crypto When It Falls

      featured image

      Despite Resurrection of Old Bitcoiners, HODL Waves Indicate Bullish Accumulation

      featured image

      Top 5 Online Merchants That Accept Cryptocurrency

      featured image

      An account into Bitcoin Lightning Network Progress and other Scalability Solutions

      featured image

      Why Bitcoin [BTC] Could Fall to $5,000. Now that Halving is Done

      Trending Tags

      • Altcoin
      • Crypto Lists
      • Trade Signal
      • News
        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        Bitcoin Market’s Sentiments turned bullish after USA President’s recent press conference

        featured image

        Breaking : Crypto Trading is now legal in South Korea

        RBI to allow crypto trading

        Supreme court of India decided to lift off RBI Banking BAN against Bitcoin

        featured image

        Steemit Joining TRON Ecosystem

        Reliance Jiocoin

        Reliance Jio is preparing for Jio Coin launch in 2020

        A $134 Million real estate has sold on ethereum blockchain

        A $134 Million real estate has sold on ethereum blockchain

        Hacking attacks on cryptocurrency exchanges

        Hacking Attacks on Cryptocurrency Exchanges are rising, Why?

        Bithumb Launches in India

        Bithumb Global Launches in India

        US-China trade war effect on Bitcoin Price

        US-China trade war effect on Bitcoin Price

      • Crypto Market
      • Guide
      No Result
      View All Result
      ItsBlockchain
      No Result
      View All Result
      Home bitcoin

      Bitcoin Has Fallen Below $5,000 – What’s Next ?

      Ramaa Mohan by Ramaa Mohan
      November 22, 2018
      in bitcoin
      0 0
      0
      bitcoin fallen below $5000
      3
      SHARES
      15
      VIEWS
      Share on FacebookShare on Twitter

      Bitcoin, over the last couple of months, has been on a serious decline. The cryptocurrency over the last 24-hours has breached the below $5,000 USD barrier and has fallen further down. At this point, the Bitcoin value has come down to just below 75% of its all-time high of $19,000 USD.

       

      As it happens all the time, along with Bitcoin all the other altcoin markets and other coins in the cryptocurrency market too face and harbour huge losses. Right now Ethereum is below the $150 USD mark which was identified as the currency’s support line. Similarly, Ripple too has taken a few hits in the process.

       

      Usually, when Bitcoin falls and it brings along with it the other cryptocurrencies in the process, the dominance of Bitcoin increases, but this time the market seems to be breaking all the usual moulds of the market as it has managed to drop in dominance too. Bitcoin dominance has dropped two points and is right now at 52.8%.

       

      Reasons For the Fall

       

      The cryptocurrency market has been in a bearish region for quite some time now. Bitcoin over the past year has lost more than 50% of its all-time high and while that is what was expected, the falls have been slightly worse than predicted. But that is the thing about the cryptocurrency market, things and trends cannot be predicted.

       

      There are too many factors and external influences that affect the market. And while there is some level of predictability to it, it is not always on point and can vary by a huge margin.

       

      However, the further decline that Bitcoin and subsequently the other altcoins have experienced, is being attributed to two main events. The first of them being the hash war that the splitting of Bitcoin Cash has sparked in the community.

       

      Bitcoin Cash in its recent network update underwent a split because of conflicting ideologies and proposals. The network update ended up becoming a hardfork in which the blockchain split into two and then went on to become a race between the two blockchains. This was also fueled by the big names of the cryptocurrency market with Roger Ver leading one blockchain and Craig Wright leading the other one.

       

      Roger Ver warned investors that the hashing war could reflect badly on the market especially Bitcoin. But following the hash war, there is a lot of bad blood in the community and has left a bad aftertaste for the market’s valuation.

       

      Another major reason that the market is low right now is that the SEC is conducting a major crackdown on the ICO sector of the cryptocurrency market. They have come down on many ICOs and their companies for not having reached the promised milestones and achievements that they promised at the time of the ICO. They have now been slapped with a fine and a charge for the same. This has stunted the market in some ways, but not as badly as the hash wars because of Bitcoin Cash.  

       

      More To Come

       

      Experts and traders in the market seem very unfrazzled by the new low that Bitcoin has taken over the last twenty-four hours. Even though the final support line identified by most financial bodies in the market was $7,000 USD, the traders and investment experts of the cryptocurrency market are very sure that this is not the worst and there is more to come over the next four to five months.

       

      The reason that the traders have taken this stance is quite technical in nature. They are convinced that this is not the end because based on technical analysis of the market, the market has been on a downward trend since 2017 December when the most of the coins and Bitcoin reached their peaks; setting new all-time highs.

       

      Researchers and market experts have also identified that the cryptocurrency market has been in a decline since December 2017. Probably the most disappointing of the news is that the downward trend is going to last up until the second quarter of 2019.

       

      [bctt tweet=”Bitcoin Has Fallen Below $5,000 – What’s Next ?” username=”ItsBlockchain”]

       

      Recanting Predictions

       

      A lot of cryptocurrency investors and community members came out in 2017 and made predictions of what price the first cryptocurrency of the world will finish the next year. The most popular ones among those were the ones made by the likes of John McAfee.

       

      With the downward trend that has ensued since 2017, the cryptocurrency market has been on a decline and a lot of the people that made predictions have recanted them or changed the time frame. In response to the cryptocurrency decline, John McAfee has changed his time frame from 2018 to 2021. Another major difference in the predictions made right now is that they all lie between $1,500 to $3,000.

       

      Many investment advisors have come out and called out support line at $7,000 USD but as on now, Bitcoin is $2,000 USD under that limit. And everybody in the market and the financial sphere have their eye on the market as it sets up for further losses.

       

      Must Read Bitcoin could fall below 3000$?

      IBC-Transparent-Logo-(1)

      Subscribe To Our Newsletter

      Join our mailing list to receive Cryptocurrency investing and trading recommendations to your mailbox.

      You have Successfully Subscribed!

      Tags: #blockchain #bitcoin #Cryptocurrencybitcoinbitcoin fallbitcoin fall below 5000bitcoin fall reasonbitcoin fallen 3000$ belowbitcoin fallen below $5000why bitcoin fallenwhy bitcoin fallen below $5000
      ShareTweetPin3

      Subscribe to get notified on latest posts.

      Unsubscribe

      Related Posts

      featured

      A starter guide to Bitcoin Options trading

      by Nivesh Rustgi
      July 6, 2020
      0

      In this Guide, we will cover Bitcoin options trading, options trading platforms and how to trade bitcoin options on deribit....

      Featured Image

      With Bitcoin Mining Capitulation Coming to an End, Will Halving Pump Begin?

      by Nivesh Rustgi
      June 21, 2020
      0

      Bitcoin hash-rate recovery is underway and we can expect a buy signal post the miner capitulation soon. However, the...

      featured image

      Technical Indicators suggests Bitcoin can crash to 7000$ in next few days

      by Hitesh Malviya
      June 15, 2020
      0

      In this article, we will look at Technical Indicators which suggests Bitcoin can crash below 7000$ in the next few...

      featured image

      Why is Bitcoin a safe haven in a financial crisis

      by Nivesh Rustgi
      June 12, 2020
      0

      In this article, we will discuss Why Bitcoin is a safe haven and how it can perform during the next...

      featured image

      How to Make Money in Crypto When It Falls

      by Hitesh Malviya
      June 5, 2020
      0

      For anyone who finds themselves frustrated with the lack of growth in Bitcoin and other coins over the last year,...

      Load More

      About Us

      We share important articles on blockchain technology here. Our mission is to spread the awareness about blockchain technology to masses through content.

      • Trending
      • Comments
      • Latest
      featured image

      List of leading partners of Ripple, and How they use XRP?

      May 2, 2020
      featured image

      List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

      May 12, 2020
      How to Buy Cryptocurrency in China

      How to Buy Cryptocurrency in China

      February 17, 2020
      featured

      A starter guide to Bitcoin Options trading

      July 6, 2020
      featured image

      Top 10 Low market cap altcoins to invest in 2020

      June 2, 2020
      binance exchange safe

      How Safe is Binance Exchange

      August 21, 2020
      Find an Altcoin Bottom

      How to Find an Altcoin Bottom and Uptrend

      April 30, 2020
      playcent

      Introducing Playcent- Decentralised Wix for interactive apps and games

      December 14, 2020
      RioDeFi Builds a Bridge to India before its long awaited IDO on Uniswap

      RioDeFi Builds a Bridge to India before its long awaited IDO on Uniswap

      September 27, 2020
      Bitcoin [BTC] Price Analysis – Monthly Returns

      Bitcoin [BTC] Price Analysis – Monthly Returns

      September 1, 2020
      Featured Image

      PrimeXBT – A Smart Platform to Trade Crypto, Forex, and CFD

      August 28, 2020
      featured image

      Bitcoin [BTC] Price Prediction: Parabolic Fractals from 2019

      August 2, 2020
      featured image

      Top 10 Staking Coins Everyone Should Know About

      July 26, 2020
      featured

      4 Interesting Ways Blockchain Technology Impacts Higher Education

      July 21, 2020
      • featured image

        List of leading partners of Ripple, and How they use XRP?

        137 shares
        Share 137 Tweet 0
      • List of ChainLink Partnerships which skyrocketed the growth of LINK cryptocurrency

        55 shares
        Share 55 Tweet 0
      • Top 5 DeFi Crypto Projects

        52 shares
        Share 52 Tweet 0
      • Top 10 Low market cap altcoins to invest in 2020

        20 shares
        Share 20 Tweet 0
      • Bitcoin lost 4.5 years old support, drop below 3000$ possible

        124 shares
        Share 124 Tweet 0
      ItsBlockchain

      We are India’s first and oldest Blockchain & Cryptocurrency publication platform started in 2016. We are a one-stop destination for technical analysis, cryptocurrency recommendations, and Blockchain technology resources.

      Buying Guides

      • Buy Bitcoins in India
      • Buy Bitcoins in China
      • Buy bitcoins in Russia
      • Buy Bitcoins in Japan
      • Buy Bitcoins in Turkey

      Important Links

      • Home
      • About US
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      Follow Us

      Contact us

      support@itsblockchain.com

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      No Result
      View All Result
      • About US
      • Home
      • Newsletter
      • Privacy Policy
      • Promote Your ICO
      • Submit post

      © 2020 itsblockchain.com - Designed and maintained by Fanatic Coders

      Login to your account below

      Forgotten Password?

      Fill the forms bellow to register

      All fields are required. Log In

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.