Well, well, well, if it isn’t the old cryptocurrency rascal, Bitcoin, throwing a tantrum in the market again. After a cozy little nap around $90,000, it’s taken a swan dive down to about $87,400. A 7% plummet that’s got folks more nervous than a long-tailed cat in a room full of rocking chairs.
Remember when Bitcoin was flying high like a kite with a $109,000 string? Those were the days, my friends. But now, it’s like watching a soufflé collapse – ain’t nobody got time for that.
Bitcoin’s Gonna Break Below $80,000? You Don’t Say!
Mr. Jesse Olson, a self-proclaimed market wizard, has been yammering on about Bitcoin’s future like a town crier. He’s been waving his hands and pointing at charts like a man possessed, talking about “pivot points” and “significant downturns” as if he’s predicting the weather.
He’s dug up some history that says Bitcoin’s had a couple of big ol’ belly flops before. Once it dropped 56% and another time a whopping 77%. And here we are, perched just 15% below the peak, with Olson squawking about a sell signal like a chicken with its head cut off.
Now, he’s hinting that Bitcoin might dip below $80,000, and the big boys’ charts are looking mighty bearish. Time to batten down the hatches, folks!
Arthur Hayes Says: “Batten Down the Crypto Hatches!”
And if that ain’t enough, Mr. Arthur Hayes is singing the same tune, like a canary in a coal mine. He’s got a bee in his bonnet about these hedge funds playing a dangerous game with BlackRock’s Bitcoin ETF and CME futures. It’s like watching a high-wire act without a safety net.
If Bitcoin keeps sliding, these funds might just jump ship, selling faster than a hotcake at a church picnic. Hayes reckons we could see Bitcoin hit the skids down to $70,000. Lord have mercy!
But hold your horses, because Doctor Profit is here to pour some sunshine on this gloomy parade. He’s saying that Bitcoin’s production cost is $95,000, and the market price is below that. It’s like finding a diamond in the rough, or so he says. Time to buy, buy, buy!
Doctor Profit is making a case that when the market price is lower than the production cost, it’s like shooting fish in a barrel. Let’s see if he’s right, or if he’s just blowing smoke.
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2025-02-26 04:36