Famous Trader Who Ran $100M PNL To 0 Predicts Bitcoin Price Will Crash To $67,000, Here’s When Famous Trader Who Ran $100M PNL To 0 Predicts Bitcoin Price Will Crash To $67,000, Here’s When
Crypto dealer James Wynn, who famously misplaced $100 million in realized income, has predicted a brand new Bitcoin value crash. Wynn notably referred to as for a crash simply earlier than the flagship dropped under $100,000 earlier this month, reaching new lows within the course of.
Famous Trader Predicts Bitcoin Crash To $67,000
In an X post, James Wynn predicted that the Bitcoin value might crash to $67,000, stating that he expects it to occur by the tip of the week or probably in the course of the weekend. He added {that a} drop to this stage makes probably the most sense at this level, as there’s “pretty” assist and buy pressure in that zone.
Wynn made this prediction whereas referencing an X post he made a couple of Bitcoin value crash, which he rightly predicted. Last month, he predicted that BTC might drop by 32% to $77,000. He famous again then that the flagship crypto had many of those crashes in previous cycles and that Bitcoin was coming off a 650% rally.
However, Wynn’s newest Bitcoin value prediction stays unsure for now, because the flagship crypto seems to be rebounding from its lows of $81,000 final week. BTC yesterday reclaimed the psychological $90,000 stage, with a possible rally to $100,000 in sight. Bitcoin has bounced amid optimism of a Fed charge minimize, and with the Fed set to finish quantitative tightening (QT) by December 1.
Notably, BitMEX co-founder Arthur Hayes had predicted that $80,000 would mark the underside for Bitcoin value, noting that liquidity was bettering. He additionally alluded to the rise in financial institution lending this month, which he indicated may be contributing to the advance in market liquidity.
BTC Could Rally To As High As $115,000
In an X post, crypto analyst Colin predicted that the Bitcoin value might rally to between $100,000 and $115,000 as a part of this market restoration. This got here as he declared that BTC will expertise a continued aid rally, coinciding with the SPX’s subsequent breakout. He added that the SPX will make new all-time highs (ATHs) however that the flagship crypto in all probability received’t.
Meanwhile, Colin warned that this aid rally for the Bitcoin value is a second probability to get out earlier than the remaining bear market capitulation. The crypto analyst claimed there’s an 80% probability BTC is already in a bear market, whereas a 20% probability it should make new all-time highs. This got here as he expressed doubts over the present value motion, noting that there are a whole lot of overhead resistances for BTC.
At the time of writing, the BTC value is buying and selling at round $91,200, up over 4% within the final 24 hours, in keeping with data from CoinMarketCap.
