A crypto analyst, known as DonAlt, is predicting a massive Bitcoin crash in the next bear market. He believes that companies holding large amounts of Bitcoin will trigger the downturn.
The Big Sell-Off
DonAlt, who correctly predicted the 2022 Bitcoin bottom, says companies holding Bitcoin in their treasuries will be the main force behind the next bear market. These companies currently hold over 1 million BTC, worth over $117 billion. He predicts this massive amount of Bitcoin will be sold off, leading to a brutal market downturn. He’s convinced this will be as bad, if not worse, than previous crashes.
How Bad Could It Get?
DonAlt thinks the next bear market could see Bitcoin’s price fall by 70% to 80% from its peak. He’s drawing parallels to the 2018 bear market, where Bitcoin plummeted from $20,000 to $3,000.
Short-Term Concerns
While DonAlt is bearish in the long term, he sees a potential short-term correction. If Bitcoin falls below $101,000, he expects a drop to $90,000-$95,000.
Current Market Conditions
At the time of writing, Bitcoin is trading around $105,438.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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