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I do not know this man but my conclus is simple. He is not an analyst at all.
Well, anything is possible as many says, and in an unpredictable market like the crypto market, anything can happen. It's just a matter of "what are the chances" that the scenario will happen. I do not know this man but my conclus is simple. He is not an analyst at all.
During the last 2 bear market that I saw, the market went down to around 70-80%. I took a quick calculation, and if we compute Bitcoin's previous ATH, to how much it can go down when the bear market happens, this might be the lowest price that it can go.
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Bitcoin reached its all-time high price of $108,388 on December 17, 2024.
If Bitcoin's price were to decrease by:
70%, it would be valued at $32,516.40.
75%, it would be valued at $27,097.00.
80%, it would be valued at $21,677.60.
I'm not saying that it will touch these prices with a 100% accuracy, but I just based on history, but there's a chance that it will touch those prices just by basing on the price movement of Bitcoin in the last 2 bear markets. $10,000 for me is just simply ridiculous, but I'm not negating his analysis because... he has the right to do so. If Bitcoin's price were to decrease by:
70%, it would be valued at $32,516.40.
75%, it would be valued at $27,097.00.
80%, it would be valued at $21,677.60.
If he says $10,000, I will say that Bitcoin can fall to as low as $9,999, and you can call me stupid for that, but I have the right to do it.