{"id":7002,"date":"2024-09-16T12:00:55","date_gmt":"2024-09-16T12:00:55","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7002"},"modified":"2024-09-16T12:00:55","modified_gmt":"2024-09-16T12:00:55","slug":"glassnode-founders-say-bitcoin-crash-to-37000-wouldnt-be-a-bad-thing-heres-why","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7002","title":{"rendered":"Glassnode Founders Say Bitcoin Crash To $37,000 Wouldn\u2019t Be A Bad Thing, Here\u2019s Why"},"content":{"rendered":"

Glassnode co-founders<\/a> Jan Happel and Yann Allemann recently indicated that a Bitcoin crash to $37,000 would be a good thing. They also explained why they wouldn\u2019t be sad about such a massive price decline<\/a> for the flagship crypto.\u00a0<\/p>\n

Bitcoin Dropping To $37,000 Would Be A Steal<\/h2>\n

Happel and Allemann mentioned in an X (formerly Twitter) post<\/a> on their shared account that a Bitcoin price drop to $37,000 would be a steal. They added that they won\u2019t be \u201cmad\u201d about the price crash because it would give them an opportunity to buy more BTC<\/a> at such low levels. The Glassnode co-founders won\u2019t hesitate to buy the dip as they are confident about Bitcoin reaching a new all-time high (ATH)<\/a> in this market cycle.\u00a0<\/p>\n

In an earlier X post, they stated that Bitcoin\u2019s next run-up to $70,000 will likely see it break its current ATH of $73,000, reached in March earlier this year. Happel and Allemann added that BTC\u2019s parabolic rally would be driven by a \u201cstrong altcoin undercurrent,\u201d predicting that the altcoin season<\/a> could occur soon enough.\u00a0<\/p>\n

The Glassnode co-founders could get their wish of Bitcoin dropping to $37,000 before hitting a new ATH as crypto Zoran Kole recently predicted an imminent price crash for the flagship crypto. Kole mentioned in an X post that he believes that the low $40,000 range is coming next for Bitcoin.\u00a0<\/p>\n

The analyst further highlighted a \u201cvery clear\u201d Head-and-Shoulders pattern<\/a> developing on Bitcoin\u2019s chart, which showed that the flagship crypto could drop to as low as $36,000. He added that this bearish pattern \u201ccoincides with a yearly open retest with a strong case for a bounce right below the current yearly low of $38,500.\u201d<\/p>\n

Kole revealed that breaking the weekly bearish market structure could invalidate this trade setup. That means Bitcoin needs to rise above $65,000 to confirm a bullish reversal. Crypto analyst Jelle<\/a> also suggested<\/a> that $65,000 is the level Bitcoin needs to break above to enjoy a parabolic rally to a new ATH.\u00a0<\/p>\n

BTC Breakout To Happen In Next \u201cFew Weeks\u201d<\/h2>\n

Crypto analyst Rekt Capital<\/a> has offered a more bullish outlook for Bitcoin, stating that history suggests the BTC breakout<\/a> could happen in the next few weeks. He also revealed that Bitcoin is close to reclaiming the reaccumulation range and resynchronizing with post-halving price tendencies. This could lead to the parabolic uptrend, which the analyst had previously mentioned is the next stage of the halving cycle<\/a>.\u00a0<\/p>\n

In another X post, Rekt Capital indicated that it was important for Bitcoin to close this month above the quarterly level at $58,800<\/a>. He stated that a close above this price level would fully confirm Bitcoin\u2019s successful retest of this price range as support.\u00a0<\/p>\n

At the time of writing, Bitcoin is trading at around $58,400, down over 2% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Glassnode co-founders Jan Happel and Yann Allemann recently indicated that a Bitcoin crash to $37,000 would be a good thing. They also explained why they wouldn\u2019t be sad about such a massive price decline for the flagship crypto.\u00a0 Bitcoin Dropping To $37,000 Would Be A Steal Happel and Allemann mentioned in an X (formerly Twitter) […]<\/p>\n","protected":false},"author":0,"featured_media":7003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7002"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7002"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7003"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}