Whale Says Some Bitcoin and Crypto Traders Will Likely Be Punished As Top Investors Update Outlook on BTC
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Forecasts on the future of Bitcoin and the crypto markets are pouring in from top investors as BTC hovers below $42,000.
A popular pseudonymous whale and trader who goes by the name Light says he believes Bitcoin has reached a bottom, and traders who sell at current levels are making a mistake.
“People really are capitulating into one of the most stacked bids I’ve ever seen, and into key support. Emotional. Will be punished shortly I think.”
The whale also points to a historic level of support for Bitcoin to highlight his case that BTC may have reached a floor.
“Don’t really like to speak in deterministic terms, but if you sold here I think you just sold the bottom.”
Kyle Davies, the co-founder of crypto investment firm Three Arrows Capital, shares the same sentiment.
“I have meditated for three weeks, no Twitter, only prayer. I have seen the future. And it does not include Bitcoin dying.
Rise like a phoenix from the ashes, the BTC bottom is in.”
Fellow Three Arrows Capital founder, Zhu Su, is also bullish.
“If you’re selling BTC at 2x previous all-time highs over four years just go back to underperforming SPX every year and leave the rest of us in peace.”
And after warning BTC could go as low as $38,000, crypto investment guru Mike Novogratz is sending out a simple message.
Of course, not all analysts are calling for a turnaround.
After accurately forecasting the start of the Bitcoin bear market back in 2018, veteran trader Peter Brandt warns BTC has just violated its parabolic trend – although he’s not making a firm prediction on what’s coming next.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc
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