Close Menu
  • Coins
    • Bitcoin
    • Ethereum
    • Altcoins
    • NFT
  • Blockchain
  • DeFi
  • Metaverse
  • Regulation
  • Other
    • Exchanges
    • ICO
    • GameFi
    • Mining
    • Legal
  • MarketCap
What's Hot

Ethereum price reclaims $4,100 as institutional dip-buying heats up 

19/10/2025

AI revenue likely to fall $800b short, will it affect crypto AIs?

19/10/2025

Stripe’s Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business

19/10/2025
Facebook X (Twitter) Instagram
  • Back to NBTC homepage
  • Privacy Policy
  • Contact
X (Twitter) Telegram Facebook LinkedIn RSS
NBTC News
  • Coins
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. NFT
    5. View All

    Price Breaks All-Time High Record Again – Here’s What We Know

    04/08/2025

    Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

    04/08/2025

    Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

    04/08/2025

    High-Stakes Consolidation Could Define Q3 Trend

    04/08/2025

    Ethereum price reclaims $4,100 as institutional dip-buying heats up 

    19/10/2025

    Ethereum Price Could Rise and Fall to These Levels Before Its Next Rally — Here’s Why

    19/10/2025

    Ethereum (ETH) to $5,000 ‘Soon,’ Says Top Analyst

    19/10/2025

    ETH eyes further recovery as price nears $4,200

    19/10/2025

    The Sui Ecosystem’s Top 3 Altcoin Performers

    29/07/2025

    Floki Launches $69000 Guerrilla Marketing Challenge With FlokiUltras3

    28/07/2025

    Crypto Beast denies role in Altcoin (ALT) crash rug pull, blames snipers

    28/07/2025

    $1.6 Billion XRP Surge: Here’s What’s Unfolding

    28/07/2025

    NFT sales spike 6% to $161.7m, Pudgy Penguins sales jump 165%

    19/10/2025

    Here’s When to Expect the SEA Token as OpenSea Trading Volume Spikes

    17/10/2025

    FIFA Hit With Swiss Criminal Complaint Over NFT World Cup Ticket Vouchers

    17/10/2025

    NFT markets rebound after $1.2B wipeout in Friday’s crypto crash

    15/10/2025

    Ethereum price reclaims $4,100 as institutional dip-buying heats up 

    19/10/2025

    AI revenue likely to fall $800b short, will it affect crypto AIs?

    19/10/2025

    Stripe’s Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business

    19/10/2025

    What Is World Liberty Financial? The Trump Family DeFi Project Explained

    19/10/2025
  • Blockchain

    Shibarium and Ethereum Connected Again

    19/10/2025

    DeBox and BitMart to Advance Web3 Social Networking and Data Control

    19/10/2025

    Metya Joins Forces with Stability World AI to Boost Web3 Social Engagement And User Experience

    19/10/2025

    Hydra Network Taps DeAgentAI for Smarter, Safer, and Decentralized AI

    19/10/2025

    Quack AI Partners Solidus AI Tech to Drive AI-Powered Web3 Infrastructure

    19/10/2025
  • DeFi

    What Is World Liberty Financial? The Trump Family DeFi Project Explained

    19/10/2025

    Morpho Debuts DeFi Lending Opportunities on Sei Network, Advancing Cross-Chain DeFi Experience

    19/10/2025

    Jupiter launches Ultra v3 on Solana

    19/10/2025

    What Is FXRP? How Flare Is Bringing DeFi to XRP Holders

    18/10/2025

    How to Square Decentralized Finance With Regulatory Compliance

    18/10/2025
  • Metaverse

    Metaverse will revolutionize learning in the same way as Sesame Street

    10/10/2025

    Dogelon Mars Recent Metaverse Updates

    26/09/2025

    ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse

    17/09/2025

    KaratDAO and SecondLive Partners to Reshape Web3 Identity and Immersive Digital Worlds

    16/09/2025

    Metaverse ‘still has a heartbeat’ as NFT sales jump 27% in August

    12/09/2025
  • Regulation

    AI revenue likely to fall $800b short, will it affect crypto AIs?

    19/10/2025

    Morgan Stanley Crypto Trading Ambitions Drawing Nearer: Bloomberg

    19/10/2025

    Blockchain payment firm Fnality raises $136M in round led by major banks

    19/10/2025

    Gold reaches record high of $3,800 per ounce

    19/10/2025

    UCITS boom and challenge to the giants

    19/10/2025
  • Other
    1. Exchanges
    2. ICO
    3. GameFi
    4. Mining
    5. Legal
    6. View All

    Stripe’s Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business

    19/10/2025

    Binance Responds to Claims of Altcoin Dumping and Listing Fee Demands

    19/10/2025

    Lightspark Acquires Striga to Supercharge Open Payments on Bitcoin

    19/10/2025

    Coinbase Delists Major Cryptocurrency: Details

    19/10/2025

    ICO for bitcoin yield farming chain Corn screams we’re so back

    22/01/2025

    Why 2025 Will See the Comeback of the ICO

    26/12/2024

    Tough year for blockchain gaming, but there’s a ‘shimmer of hope’

    17/10/2025

    MARBLEX Joins Microsoft to Accelerate AI-Driven Web3 Gaming Advancement

    16/10/2025

    Axie Infinity Introduces New Community Bounties and Expands Axie Quest

    14/10/2025

    ‘Eve Frontier’ Jumps Ship from Ethereum to Sui—Here’s Why

    13/10/2025

    Are Bitcoin Miners Now Abandoning BTC to Work on Artificial Intelligence? Industry Members Respond

    19/10/2025

    Bitcoin, Energy and the Future of Sustainable Crypto

    19/10/2025

    Bitcoin Hashrate Blasts to a Lifetime High of 1,157 EH/s

    19/10/2025

    Bitcoin Mining and Treasury Firms Falter Together as BTC Drops 4.6% on the Week

    19/10/2025

    California unclaimed crypto law strengthen owner safeguards

    19/10/2025

    SEC Chair Paul Atkins Pushes to Formalize ‘Innovation Exemption’ by End of 2025

    18/10/2025

    Innovative Sanction for a Crypto Investor Who Supported Russia

    18/10/2025

    California Becomes First State to Protect Unclaimed Crypto, Coinbase CLO Reacts

    18/10/2025

    Ethereum price reclaims $4,100 as institutional dip-buying heats up 

    19/10/2025

    AI revenue likely to fall $800b short, will it affect crypto AIs?

    19/10/2025

    Stripe’s Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business

    19/10/2025

    What Is World Liberty Financial? The Trump Family DeFi Project Explained

    19/10/2025
  • MarketCap
NBTC News
Home»Bitcoin»Bitcoin Price Plunge To $12,000 Is Not Foreseeable
Bitcoin

Bitcoin Price Plunge To $12,000 Is Not Foreseeable

NBTCBy NBTC04/11/2023No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


The Bitcoin price performance was one of the brightest stories in the crypto market in the month of October. While some crypto analysts currently have bearish projections for the premier cryptocurrency, others have maintained a positive stance for BTC’s performance in November and beyond.

A crypto analyst known by the pseudonym Mags on the X (formerly Twitter) platform recently offered an insight into Bitcoin’s price action, quelling bearish sentiments around the pioneer cryptocurrency.

The Current Cycle Witnessed Its Own Black Swan Event

Bitcoin enthusiasts and analysts have been closely monitoring the coin’s price movements, with some skeptics anticipating a significant drop to as low as $12,000. Mags, on the other hand, said on X that the recent slow but steady upward trajectory of Bitcoin suggests a different narrative.

The crypto analyst posited that the current Bitcoin price action resembles a phase of vertical accumulation, hinting at the potential for a parabolic surge in the near future. Mags claimed that people waiting for a substantial price decline seem to be in disbelief.

Furthermore, Mags suggested that most bearish projections are centered around the potential occurrence of a black swan event. For context, a black swan event refers to an unpredictable incident that is beyond what is normally expected of a situation and has potentially severe consequences.

However, the analyst believes that the anticipated black swan event has already occurred. While the black swan event in the 2021 bull cycle was the COVID-19-induced market crash, the current bull cycle witnessed the FTX exchange collapse as its own black swan event.

As a result of FTX’s collapse, Bitcoin price plunged to as low as $15,500. Nevertheless, BTC’s price has been on a gradual ascent and is back up by more than 120% since the market crash. This steady price rise reflects the cryptocurrency’s robust nature and its ability to bounce back from unforeseen setbacks.

Bitcoin Price Overview

The Bitcoin price has been on a tear in the past weeks, rallying by more than 25% in the last month. However, it is worth noting that the premier cryptocurrency has somewhat slowed down in the past few days, with only a 1.9% price increase in the past week.

As of this writing, Bitcoin is valued at $34,765, reflecting a 1.5% price jump in the past 24 hours. Although the market leader breached the $35,000 mark and traveled to a high of $35,700 in the past week, it has struggled to maintain momentum and stay above $35,000.

Bitcoin price at $34,758 on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from iStock, chart from TradingView

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
NBTC

Related Posts

Price Breaks All-Time High Record Again – Here’s What We Know

04/08/2025

Bitcoin Switzerland? El Salvador to Host First Fully Native Bitcoin Capital Markets

04/08/2025

Bitcoin Breaks $119K, but XLM and HBAR Aren’t Impressed by Its Meager Percentage Gain

04/08/2025

High-Stakes Consolidation Could Define Q3 Trend

04/08/2025
Add A Comment

Comments are closed.

Top Posts
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook X (Twitter) LinkedIn RSS
Top Insights

Ethereum price reclaims $4,100 as institutional dip-buying heats up 

19/10/2025

AI revenue likely to fall $800b short, will it affect crypto AIs?

19/10/2025

Stripe’s Bridge Applies for National Bank Trust Charter to Expand Stablecoin Business

19/10/2025
Get Informed

Subscribe to Updates

Get the latest news from NBTC regarding crypto, blockchains and web3 related topics.

Type above and press Enter to search. Press Esc to cancel.