Chances Bitcoin Falls Below $10K? 99%, WhaleWire Warns: Blame 'Moon Boy Scammers'
Portfolio Pulse from Ivan Crnogatić
WhaleWire, a prominent account on X with over 519,000 followers, predicts a 99.99% chance that Bitcoin (BTC) will fall below $10,000, citing unsustainable rally due to fraud and price manipulation. The account also mentions a 'Tether money printing spree' as a cause for the current rally, leading them to increase their short position. Despite WhaleWire's bearish stance, Bitcoin recently surpassed $51,000, casting doubt on the prediction's accuracy. The article also references skepticism towards such predictions, quoting ETF Store president Nate Geraci's remark, 'Nobody knows anything.'
February 14, 2024 | 6:32 pm
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WhaleWire predicts a 99.99% chance Bitcoin will fall below $10,000 due to unsustainable rally and manipulation, but recent price surpasses $51,000.
WhaleWire's prediction of a significant drop in Bitcoin's price is based on claims of market manipulation and unsustainable rally factors. However, the recent surge in Bitcoin's price to over $51,000 casts doubt on the immediacy of such a drastic fall. The prediction's impact on Bitcoin's short-term price is negative, given the account's large following and the potential influence on market sentiment. However, the actual market performance of Bitcoin, which contradicts the prediction, suggests a cautious approach to such bearish forecasts.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 90