A crypto analyst is warning that Bitcoin could be headed for a major crash.
Bearish Market?
Alan Santana, a crypto analyst, believes that Bitcoin’s price could plummet to around $35,720. This represents a massive drop of almost 50% from its current price. He’s calling the current market “bearish” and blames it on a lack of buying activity.
Santana says that Bitcoin has been on an upward trend for 75 days, but it hasn’t reached new highs. He points to a lack of “whale” activity, meaning that big investors aren’t buying Bitcoin at its current price.
Manipulation Fears
Santana believes that the market is being manipulated by large investors who are artificially inflating Bitcoin’s price. He thinks they’re hoping to lure in smaller investors, but if there aren’t enough genuine buyers, the manipulation could backfire.
Retail Investors Wise Up
Santana says that retail investors are becoming more cautious about Bitcoin, as they’ve been burned by previous cycles of hype and manipulation. They’re not falling for exaggerated predictions about Bitcoin reaching astronomical prices.
Mixed Reactions
Santana’s bearish prediction has been met with mixed reactions from the crypto community. Some critics argue that his analysis is flawed, while others accuse him of trying to manipulate investors himself.
What’s Next for Bitcoin?
While Santana is predicting a crash, Bitcoin’s price is currently holding steady. It remains to be seen whether his prediction will come true. The crypto market is notoriously volatile, and anything could happen.
