{"id":60241,"date":"2022-04-18T09:41:21","date_gmt":"2022-04-18T06:41:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=60241"},"modified":"2025-09-05T02:15:52","modified_gmt":"2025-09-04T23:15:52","slug":"bitcoin-breaks-local-low-below-39000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-breaks-local-low-below-39000\/","title":{"rendered":"Bitcoin breaks local low below $39,000"},"content":{"rendered":"<p>On Monday, 18 April, the price of the leading cryptocurrency hit a local low not seen since mid-March. At one point the price fell below $38 550 (Bitstamp).<\/p>\n<p>The BTC rate has since retraced to above $38 900. Over the last 24 hours the asset has fallen by 3.4%, over the week by 7.8%, according to<a href=\\\"https:\/\/www.coingecko.com\/ru\\\"> CoinGecko<\/a>.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh3.googleusercontent.com\/4oXMG_1of8r1wSbPkFaTUtsRtr1m7xoe_waX-IBAml3AXJw0R26KMI_emHIpwMyfv7OvRpXUgiAD45k5Msqzvi7x6QFwjheR-u6oIbQyVIxOZSI3FP9Z6AQqvJqHf320glD21CKl\\\" alt=\\\"Bitcoin broke local low below $39 000\\\"\/><figcaption>Hourly BTC\/USD chart on Bitstamp. Data: TradingView.<\/figcaption><\/figure>\n<p>According to<a href=\\\"https:\/\/www.coinglass.com\/LiquidationData\\\"> Coinglass<\/a>, over the last 24 hours liquidations on the futures market amounted to $225 million. Of these, more than $64 million were in digital gold.<\/p>\n<p>Traditionally, following the first cryptocurrency, all assets in the top 10 by market capitalisation declined, with the exception of the stablecoin USDT. Over the past 24 hours Ethereum lost 4% \u2014 the coin hovered around $2,920.<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh4.googleusercontent.com\/D12_6ex3sEfiT0Uvqcxh8gXqx18ZWG3t6RbLImS-kFFyTFdkfOkppsicavf0HYYqwUWx3ykSS8m93uAWvUApAvlNJ2L3AvYU1UgEVTq1vMKf_O41_YJlFCzxrB8NupslVtwuzH6V\\\" alt=\\\"Bitcoin broke local low below $39 000\\\"\/><figcaption>Hourly ETH\/USD chart on Bitstamp. Data: TradingView.<\/figcaption><\/figure>\n<p>The Bitcoin dominance index stands at 39%, Ethereum at 18.5%. The total market capitalisation is just above $1.9 trillion.<\/p>\n<p>Earlier, cryptocurrency analyst Benjamin Cowen compared the current price movement of the leading cryptocurrency with the dynamics observed before the asset&#8217;s rise in 2013 and its fall in 2018.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"Bitcoin: At A Crossroads\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/T_E7gLMH0L0?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>According to the analyst, for the bullish trend to resume the leading cryptocurrency needs to reclaim the two-hundred-day simple moving average (SMA), which is currently at around $49 000.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cIf Bitcoin can muster the courage to rise above its two-hundred-day SMA and move toward $50,000, that would look fairly optimistic. What would happen if the asset falls to $30,000, and then heads higher again? There is a good chance that we return to $40,000 or perhaps to $43,000,\u201d explained Cowen.<\/p>\n<\/blockquote>\n<p>Earlier in April the well-known technical analyst Peter Brandt<a href=\"https:\/\/u1f987.com\/en\/news\/peter-brandt-forecasts-bitcoins-bull-market-start-in-may-2024\"> allowed<\/a> BTC to return to a bull-market phase in May 2024. Similar timelines<a href=\"https:\/\/u1f987.com\/en\/news\/huobi-cofounder-predicts-bitcoin-bear-market-until-end-2024\"> are adhered to<\/a> by Huobi co-founder Du Jun.<\/p>\n<p>In April, the Celsius Network CEO Alex Mashinsky<a href=\"https:\/\/u1f987.com\/en\/news\/celsius-network-ceo-forecasts-bitcoin-above-100000-in-2022\"> predicted<\/a> Bitcoin and Ethereum reaching all-time highs in 2022.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\\\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Monday, 18 April, the price of the leading cryptocurrency hit a local low not seen since mid-March. At one point it traded below $38 550 (Bitstamp).<\/p>\n","protected":false},"author":1,"featured_media":60242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480],"class_list":["post-60241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=60241"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60241\/revisions"}],"predecessor-version":[{"id":60243,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/60241\/revisions\/60243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/60242"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=60241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=60241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=60241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}