{"id":1344,"date":"2022-10-14T03:51:16","date_gmt":"2022-10-14T03:51:16","guid":{"rendered":"https:\/\/cryptoteambuild.com\/blog\/bitcoin-to-hit-bottom-in-q1-2023-btc-price-can-plunge-to-this-potential-low-level\/"},"modified":"2022-10-14T03:51:16","modified_gmt":"2022-10-14T03:51:16","slug":"bitcoin-to-hit-bottom-in-q1-2023-btc-price-can-plunge-to-this-potential-low-level","status":"publish","type":"post","link":"https:\/\/cryptoteambuild.com\/blog\/bitcoin-to-hit-bottom-in-q1-2023-btc-price-can-plunge-to-this-potential-low-level\/","title":{"rendered":"Bitcoin To Hit Bottom in Q1-2023! BTC Price Can Plunge to This Potential Low Level"},"content":{"rendered":"

Bitcoin <\/p>\n

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The most prominent and leading crypto token is having a rough time this year due to the historical crypto market crash in May. Bitcoin price has lost more than 60% since the beginning of 2022. According to a recent tweet<\/a> by a prominent crypto strategist Toni Ghinea, BTC price may drop to the bottom line in the chart and trade between $9K to $13K before gaining a positive momentum by the beginning of 2023. <\/p>\n

Bitcoin BTC Price Is Predicted To Slip Downward!<\/strong><\/h2>\n

Bitcoin price is struggling to break the $20K level after it significantly dropped on 6 October. It is now starting a fresh decline<\/a> to 18K as it has been affected by several macroeconomic factors including the CPI data.<\/p>\n

Toni Ghinea, a popular crypto strategist and analyst, predicts that BTC price can soon make new lows and hit the bottom line in Q1 of 2023. He previously predicted<\/a> that Bitcoin would fall below the $16K level in the next 3-6 months, and eventually, it is now turning out to be true!<\/p>\n

\"bitcoin<\/figure>\n

According to him, Bitcoin is predicted to reach a price level between $14K to $16K by the end of November. However, BTC will make a slight upward reversal to $18K before significantly dropping further between a price level of $9K to $13K in Q1 of 2023. The analyst has given a slight relief as BTC may project an upward trajectory above $18K by the beginning of April 2023. <\/p>\n

<\/figure>\n

How Will The Bitcoin Price React Next?<\/strong><\/h2>\n

The Bitcoin price has slid down near its crucial support level after falling from $20K last week. Bitcoin is witnessing a slow and steady decline<\/a> below the $19.5K pivot level and SMA-100 (simple moving average) trend line. As Bitcoin is correlated to the US stocks, its price can plummet more following the general market’s reaction. <\/p>\n

\"bitcoin<\/figure>\n

According to CoinMarketCap, Bitcoin is currently trading at $18,316, with a downtrend of nearly 4% from yesterday’s price. EMA-50 and EMA-20 have dropped and traded near $19,000. Bitcoin has fallen by almost $1,000 today, with an intra-day low of $18,190.<\/p>\n

The Bollinger band’s upper limit is at $19,400, where EMA-100 is currently trading, and it is near the 23.6% Fib retracement. To make an upward move, bitcoin investors need to buy in the dip and push its price above the immediate resistance level of $19,400. If Bitcoin successfully holds its price above this level, we can again see a $22K price range.<\/p>\n

\"bitcoin<\/figure>\n

However, the bullish momentum is not expected to happen anytime soon as the RSI-14 trades at 37-level, hinting at a selling pressure due to the US stock market. The MACD line is also going downward and trading below its trend line. If bitcoin price falls below the $18K level<\/a>, it can further push its price to the downside and trade near the next support level at $17,500. <\/p>\n<\/div>\n

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Bitcoin The most prominent and leading crypto token is having a rough time this year due to the historical crypto market crash in May. Bitcoin price has lost more than 60% since the beginning of 2022. According to a recent tweet by a prominent crypto strategist Toni Ghinea, BTC price may drop to the bottom line in the chart and trade between $9K to $13K before gaining a positive momentum by the beginning of 2023.  Bitcoin BTC Price Is Predicted To Slip Downward! Bitcoin price is struggling to break the $20K level after it significantly dropped on 6 October. It […]<\/p>\n","protected":false},"author":1,"featured_media":1345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[18,290],"_links":{"self":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1344"}],"collection":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/comments?post=1344"}],"version-history":[{"count":0,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/posts\/1344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media\/1345"}],"wp:attachment":[{"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/media?parent=1344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/categories?post=1344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoteambuild.com\/blog\/wp-json\/wp\/v2\/tags?post=1344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}