Will Bitcoin Price Reach $10,000? Maybe, if THIS happens!

by James · September 20, 2022

Will Bitcoin Price Reach ,000? Maybe, if THIS happens!

The crypto market continued its bearish trend right after the merger ended. Bitcoin prices suffered heavy losses when they broke the psychological price of $20,000. They even broke the support price of $18,500 for a short time before going higher towards the current price of $19,000. Now that the support was broken, we can conclude that Bitcoin price soon to reach 10000$? Let’s analyze in this Bitcoin price prediction article and assess whether the psychological price of $10,000 will be reached or not.

How did Bitcoin perform in 2022?

The year 2022 was a bad one for the entire cryptocurrency market. Bitcoin specifically has lost more than 55% year to date. Prices fell from the high price of $47,000 to today’s price of around $19,000. Some hope was portrayed in the crypto scene right before the merger, when crypto prices started to rise in anticipation of a general rise in the crypto market. However, since prices did not move significantly as expected, many traders began to sell their newly opened positions. This led to a heavy liquidation in crypto positions and therefore Bitcoin took a heavy toll.

**Figure 1** BTC/USD 1-day chart showing the performance of BTC in 2022 – GoCharting

Will Bitcoin Price Reach $10,000?

It is clear that Bitcoin has a strong support around $18,500. The current price hovers around this price range, although it managed to break it on several occasions in the past. Bitcoin prices could easily fall towards the psychological price of $10,000, if BTC broke $18,000 as a first step. This will lead to a total collapse in crypto prices, especially since Bitcoin’s dominance is currently around 40%.

Traders and investors should watch the prices below if they break lower and follow the price action of Bitcoin closely. When any violation of the below occurs, it should trigger the next price: