Experts Voice Frustrations and Count Losses as Token Prices Dip Ahead of Bitcoin (BTC) Halving: Reveal What’s Next
The cryptocurrency market has experienced a significant downturn in recent hours, leaving investors reeling and prompting a range of reactions from notable figures in the space. As token prices plummeted, some experts took to social media to voice their frustrations and share insights on the potential market implications.
Prominent crypto personality Ash Crypto, known for his candid commentary, expressed his exasperation in a tweet: “FUCK THIS CRYPTO SHIT! DOWN $1,000,000 IN 2 HOURS I’M DONE WITH THIS SCAM.” The substantial loss, amounting to $1 million within a two-hour timeframe, underscores the volatility that can characterize the cryptocurrency market.
Similarly, Lady of Crypto, another influential voice in the crypto sphere, shared her perspective on the market downturn. Drawing parallels to her experiences in 2020, she tweeted: “In 2020, when markets dumped, and I was down 4 figures, I was panic selling and on the verge of tears. Today, I’m down 7 figures, and instead, I’m panicking because I leave for Dubai on Sunday and haven’t packed yet! So, I’m still an overemotional numpty!”
Despite the significant losses, Lady of Crypto remained optimistic, revealing that she had capitalized on the dip by heavily investing during the price drop. “I bought the dip heavily!” she exclaimed, adding that she would either delete or retweet the post next week, depending on the market’s trajectory.
Amid the market turbulence, Ash Crypto offered his analysis on the potential implications for Bitcoin, the world’s largest cryptocurrency by market capitalization. In a series of tweets, he expressed a strong belief that the current price level could represent “the top for #Bitcoin halving run.” The “halving” refers to the periodic reduction in the rate at which new Bitcoin is mined, a mechanism designed to control the cryptocurrency’s supply.
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Show more +Ash Crypto predicted a potential correction, with Bitcoin’s price dropping to the range of $50,000 to $58,000 before resuming its upward momentum by the end of 2024. He anticipated that Bitcoin would eventually break through the $100,000 to $150,000 mark by the end of 2024 or early 2025. However, he acknowledged the possibility of being proven wrong and witnessed Bitcoin trading at $100,000 within the next two months.
Shedding light on his investment strategy, Ash Crypto revealed that while he had sustained substantial losses, he remained committed to his positions, holding some for a potential “10x altseason blow off top early 2025.” Additionally, he disclosed that a portion of his portfolio was held in USDC, a stablecoin pegged to the U.S. dollar, allowing him to capitalize on dips like the one experienced today.
As the cryptocurrency market navigates this period of volatility, experts and investors alike are grappling with the implications and positioning themselves for potential opportunities or challenges that may arise in the months ahead.
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