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Bitcoin price prediction: insider raises short position by $392 million
An undisclosed Bitcoin whale has dramatically increased their short position on Bitcoin, placing a $392 million wager against the cryptocurrency. This aggressive move marks a 140% rise in their short bet, suggesting the whale anticipates a significant downturn in Bitcoin prices.
The action echoes the whale's previous successful short on a past crash, fueling speculation and concern over a potential Bitcoin crash 2.0 in the market. As this insider doubles down, traders are bracing for increased volatility in the cryptocurrency space.
The whale’s decisive move underscores the enduring debate over Bitcoin’s trajectory, recalling the dire warnings in the analyst’s earlier assessment of a possible crash below $10,000. At the same time, market participants remain mindful of past projections envisioning Bitcoin’s ascent to valuations on par with gold, as outlined in the outlook for BTC matching gold at $1.3 million.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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