Bitcoin, as the leader of the cryptocurrency market, has always attracted much attention. However, the recent news that Bitcoin prices have fallen by $1,400 per week has made investors feel heavy-hearted. People began to wonder, will the Bitcoin bull market come back? This article will conduct a detailed analysis around keywords such as Bitcoin price decline and bull market prospects to explore the future trend of Bitcoin.

 Market shocks caused by the sharp drop in Bitcoin prices

The price of Bitcoin fell by $1,400 per week, causing the entire market to fall into panic. This sharp price fluctuation not only affected investors' confidence, but also caused a sharp market shock. From a technical analysis point of view, this price drop may be due to the superposition of multiple factors, such as market sentiment, changes in regulatory policies, and exchange behavior. In this case, investors need to remain calm and face market fluctuations rationally, and do not blindly follow the trend to avoid greater losses.

 Future outlook for the Bitcoin bull market

The market has different opinions on the future outlook for the Bitcoin bull market. Some analysts believe that as an emerging asset, Bitcoin's intrinsic value is still to be explored and there is still room for growth in the future. They pointed out that Bitcoin's scarcity and decentralization make it a potential for long-term investment. However, there are also views that the Bitcoin market has greater volatility and uncertainty, and investors should be cautious and should not excessively pursue short-term gains. Therefore, for the future outlook of the Bitcoin bull market, investors should look at it rationally and make choices based on their own risk preferences and investment goals.

 How should investors deal with the volatility of the Bitcoin market

In a market environment where the price of Bitcoin falls by $1,400 per week, how should investors deal with market fluctuations? First, investors should remain calm and not be swayed by short-term market sentiment. Secondly, establish a good risk control mechanism, reasonably diversify the investment portfolio, and reduce the risks brought by a single asset. In addition, regularly track market trends, understand the latest developments in the Bitcoin and cryptocurrency industries, and adjust investment strategies in a timely manner. Most importantly, investors should invest rationally based on their own financial situation and risk tolerance, and avoid blindly following the trend and speculative behavior.

 Conclusion

As a new digital asset, Bitcoin is subject to inevitable market fluctuations. The weekly drop of $1,400 in the price of Bitcoin is only a microcosm of the market. Investors need to remain rational and prudent in their investments. Whether the bull market will come back depends on the development of the market and the choices of investors. In the future investment process, I hope that investors can remain rational and cautious, seize investment opportunities, and achieve financial freedom. I hope everyone can overcome all obstacles on the journey of the Bitcoin market and eventually reach the other side of wealth.

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Cryptocurrency markets have also been hit hard as global stock markets have seen their worst week in 12 years. Bitcoin and the entire cryptocurrency market have seen a sharp sell-off over the past week, which makes sense given the sell-off of assets due to concerns about potential economic instability. Other safe haven assets such as gold and silver also saw a massive sell-off on Friday.

So, with the Bitcoin halving approaching, will the cryptocurrency market be able to find support in the coming weeks or will it continue its current downward trend?

Bitcoin sells off after breaking below key support at $9,400

Prior to this, Bitcoin price encountered strong resistance at the $10,400 level and then urgently needed to test the key support level of $9,400. However, on February 25, Bitcoin fell below $9,400, which immediately triggered a sharp sell-off across the entire cryptocurrency market.

This sell-off also caused Bitcoin to find support in the $8,200 to $8,400 range. However, in the short term, many believe that the uptrend may have been broken as the price of Bitcoin has made lower lows on the daily chart, a key indicator of downward momentum.

So does this mean that the entire cryptocurrency market will change course and enter a downward trend? However, it should be noted that the current price of Bitcoin is still 27% higher than at the beginning of the year, which still makes Bitcoin one of the best performing assets this year.

Weekly chart needs to focus on the 21-week moving average

The weekly chart is currently stuck at a very critical position, namely the 21-week moving average. During the last bull cycle, this level was held in December 2017, and as support towards the top of the bull market, it also makes the 21-week moving average a level that bulls need to stick to at present.

If the price of Bitcoin can find support at this level, it may mean that the upward momentum will continue for some time to come. At present, the 21-week moving average is roughly around $8,400.

Of course, in order to maintain the upward momentum, Bitcoin must also break through the previous high of $10,400 later, but for now, the most important thing is that Bitcoin first needs to find support at $8,400.

If Bitcoin price fails to find support at $8,400, the next target will be $7,500 to $7,700.

Total market capitalization looking for support

From the K-line chart of total market capitalization, the total market capitalization of cryptocurrencies cannot break through $300 billion and cannot find support at $250 billion, so the entire market may continue to fall.

However, the total market capitalization is also approaching a key position, namely the 21-week moving average. Throughout the entire cycle of the last bull market, the 21-week moving average of the total market capitalization has never been broken.

In addition, there is another key level to pay attention to in addition to the 21-week moving average. During 2018 and 2019, the total market capitalization has found support at the $225 billion level several times.

Is the altcoin close to bottoming out?

The total market capitalization of altcoins shows a similar scenario to the overall market, encountering strong resistance at the $115 billion level and is currently looking for support.

The first important level to pay attention to is around $73 billion to $75 billion. If the total market capitalization of altcoins can find support near $73 billion, it is possible to return to the upward trend.

Bullish Outlook for Bitcoin

If Bitcoin wants to return to the upward trend, it first needs to find support at $8,250 to $8,400, and then rebound towards $9,200 to $9,400.

Since the previous key support level of $9,400 has turned into a resistance level, if Bitcoin wants to continue its upward momentum, it needs to further break through $9,400. If successful, it will provide the possibility of further recovery to the previous high of $10,400 two weeks ago.

In short, we need to pay close attention to whether Bitcoin can find support at the 21-week moving average.

Bearish Outlook for Bitcoin

There are several bearish scenarios. First, if the price of Bitcoin rises without a significant increase in trading volume and falls back at $8,950 or even $9,175, it means that the entire trend has turned into a downward trend, and the price of Bitcoin should fall further.

At that time, the price of Bitcoin will also test the support of $8,200 to $8,400 again. Once broken, Bitcoin will fall further to $7,500 to $7,700, which is also the last important support level.