Popular Crypto Analyst Expecting 80% Bitcoin Price Crash – Here’s Why

Popular cryptocurrency analyst Edo Farina, who has over 90k followers on X (Twitter), just made a bearish call that the crypto markets could crash over 80% in the coming months. Farina is usually quite bullish on coins like XRP but says he feels the need to give an early warning on the euphoric market conditions.

In a lengthy tweet, Farina explained his views on why a major crash could be imminent:

“The market is going “parabolic” under poor economic conditions, when #BTC was around 20K was a great entry point as the halving was still far away (it is NOT a coincidence “Satoshi” programmed the halving to always happen few months before the US elections.) I’m just witnessing euphoria and arrogance from #BTC maxis.”

Farina sees similarities between the current market euphoria and conditions before past crypto market crashes. He notes that Bitcoin’s recent surge above $60k comes during difficult economic times, and that the market euphoria reminds him of previous bubble peaks.

The analyst also warned that most crypto content creators are telling people to continuously “buy buy buy” without acknowledging the risks of a major crash. He worries these creators will disappear once a crash materializes.

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Farina expects any crash could start suddenly under low market volume conditions. With Bitcoin’s recent all-time high volume being double that of today, he thinks there won’t be enough liquidity to sustain prices in a panic selloff.

Most bearishly, Farina anticipates the potential trigger for the crash could come from a “Black Swan event” like the collapse of a major exchange or protocol. He cited recent issues at Coinbase as an example of the type of black swan that sparks wider crypto selling.

While Farina acknowledges Bitcoin could still reach new all-time highs in the short-term, he advises taking profits and reducing exposure now rather than facing potential losses of over 80% in a crypto market reset. His early warning stands in contrast to many others calling for new peaks, signaling rising unease among some analysts about current valuations.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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