{"id":642167,"date":"2024-09-16T12:00:55","date_gmt":"2024-09-16T12:00:55","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=642167"},"modified":"2024-09-16T05:20:46","modified_gmt":"2024-09-16T05:20:46","slug":"glassnode-bitcoin-crash-37000","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin\/glassnode-bitcoin-crash-37000\/","title":{"rendered":"Glassnode Founders Say Bitcoin Crash To $37,000 Wouldn\u2019t Be A Bad Thing, Here\u2019s Why"},"content":{"rendered":"<p><a href=\"https:\/\/bitcoinist.com\/what-triggered-bitcoins-last-explosion\/#:~:text=Bitcoin%20(BTC)%20has%20been%20making,optimism%20about%20the%20cryptocurrency's%20future.\" rel=\"nofollow\"><span style=\"font-weight: 400\">Glassnode co-founders<\/span><\/a><span style=\"font-weight: 400\"> 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 <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-active-addresses-crash-july-2021-lows-means\/#:~:text=The%20July%202021%20slump%20came,run%20saw%20a%20second%20wave.\" rel=\"nofollow\"><span style=\"font-weight: 400\">massive price decline<\/span><\/a><span style=\"font-weight: 400\"> for the flagship crypto.\u00a0<\/span><\/p>\n<h2>Bitcoin Dropping To $37,000 Would Be A Steal<\/h2>\n<p><span style=\"font-weight: 400\">Happel and Allemann mentioned in an X (formerly Twitter) <\/span><a href=\"https:\/\/x.com\/Negentropic_\/status\/45164704\" rel=\"nofollow\"><span style=\"font-weight: 400\">post<\/span><\/a><span style=\"font-weight: 400\"> 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 <\/span><a href=\"https:\/\/bitcoinist.com\/if-youre-yet-to-buy-bitcoin-crypto-analyst-says-this-is-the-level-to-watch\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">opportunity to buy more BTC<\/span><\/a><span style=\"font-weight: 400\"> at such low levels. The Glassnode co-founders won\u2019t hesitate to buy the dip as they are confident about Bitcoin reaching a <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-breaks-through-69000-setting-new-record\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">new all-time high (ATH)<\/span><\/a><span style=\"font-weight: 400\"> in this market cycle.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/super-guppy-indicator-says-xrp-is-ready-for-a-surge-to-99\/\">\u2018Super Guppy\u2019 Indicator Shows XRP Is Ready For A Surge To $99<\/a><\/div>\n<p><span style=\"font-weight: 400\">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 <\/span><a href=\"https:\/\/bitcoinist.com\/altcoin-season-ethereum-breakout\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">altcoin season<\/span><\/a><span style=\"font-weight: 400\"> could occur soon enough.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">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<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analyst further highlighted a \u201cvery clear\u201d <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-to-reach-112000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Head-and-Shoulders pattern<\/span><\/a><span style=\"font-weight: 400\"> 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<\/span><\/p>\n<figure id=\"attachment_642169\" aria-describedby=\"caption-attachment-642169\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-642169\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/Bitcoin_a71aa9.png?w=460&#038;resize=460%2C249\" alt=\"Bitcoin\" width=\"460\" height=\"249\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/Bitcoin_a71aa9.png?w=512 512w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/09\/Bitcoin_a71aa9.png?w=460 460w\" sizes=\"(max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-642169\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">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. <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-analyst-expects-100000-by-december-details\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Crypto analyst Jelle<\/span><\/a><span style=\"font-weight: 400\"> also <\/span><a href=\"https:\/\/x.com\/CryptoJelleNL\/status\/33478586\" rel=\"nofollow\"><span style=\"font-weight: 400\">suggested<\/span><\/a><span style=\"font-weight: 400\"> that $65,000 is the level Bitcoin needs to break above to enjoy a parabolic rally to a new ATH.\u00a0<\/span><\/p>\n<h2>BTC Breakout To Happen In Next \u201cFew Weeks\u201d<\/h2>\n<p><a href=\"https:\/\/bitcoinist.com\/bitcoin-cycle-might-be-shorter-than-usual\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Crypto analyst Rekt Capital<\/span><\/a><span style=\"font-weight: 400\"> has offered a more bullish outlook for Bitcoin, stating that history suggests the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-rally-expected-once-price-breaks-69500-fomo-likely\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">BTC breakout<\/span><\/a><span style=\"font-weight: 400\"> 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 <\/span><a href=\"https:\/\/bitcoinist.com\/breaking-bitcoin-halving-2024-complete-what-expect\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">halving cycle<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/cardano\/cardano-recovery-ada-price-crash\/\">Analysts Kick Against Cardano Recovery, Says ADA Price Is Destined For 33% Crash<\/a><\/div>\n<p><span style=\"font-weight: 400\">In another X post, Rekt Capital indicated that it was important for Bitcoin to close this month above the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-price-crashed-58000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">quarterly level at $58,800<\/span><\/a><span style=\"font-weight: 400\">. He stated that a close above this price level would fully confirm Bitcoin\u2019s successful retest of this price range as support.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, Bitcoin is trading at around $58,400, down over 2% in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.\u00a0\u00a0<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/KavBMjMs\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1450\"><figcaption class=\"wp-caption-text\">BTC bulls vie for control over price | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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) post 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 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) in this market cycle.\u00a0 Related Reading: \u2018Super Guppy\u2019 Indicator Shows XRP Is Ready For A Surge To $99 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 could occur soon enough.\u00a0 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 The analyst further highlighted a \u201cvery clear\u201d Head-and-Shoulders pattern 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 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 also suggested that $65,000 is the level Bitcoin needs to break above to enjoy a parabolic rally to a new ATH.\u00a0 BTC Breakout To Happen In Next \u201cFew Weeks\u201d Crypto analyst Rekt Capital has offered a more bullish outlook for Bitcoin, stating that history suggests the BTC breakout 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.\u00a0 Related Reading: Analysts Kick Against Cardano Recovery, Says ADA Price Is Destined For 33% Crash In another X post, Rekt Capital indicated that it was important for Bitcoin to close this month above the quarterly level at $58,800. He stated that a close above this price level would fully confirm Bitcoin\u2019s successful retest of this price range as support.\u00a0 At the time of writing, Bitcoin is trading at around $58,400, down over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":642174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,61309,93049,93050],"class_list":["post-642167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-glassnode","tag-glassnode-founders","tag-glassnode-news"],"acf":[],"yoast_head":"\n<title>Glassnode Founders Say Bitcoin Crash To $37,000 Wouldn\u2019t Be A Bad Thing, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Glassnode co-founders Jan Happel and Yann Allemann recently indicated that a Bitcoin crash to $37,000 would be a good thing.\" \/>\n<meta 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