Dan Tapiero says Bitcoin’s bull run is still on, but a 70% downturn could follow

💡 DMK Insight

Bitcoin’s fundamentals are solid, but a looming 70% downturn could shake traders’ confidence. Dan Tapiero’s comments highlight a critical tension in the market: while Bitcoin’s underlying technology and adoption rates remain robust, historical patterns suggest that significant corrections are part of the crypto cycle. Traders should be wary of the psychological impact a potential downturn could have, especially if we see a breach of key support levels. If Bitcoin approaches previous lows, it might trigger panic selling among retail investors, while institutions could see it as a buying opportunity. Watch for the $20,000 level; if it breaks, we could see a cascade effect. Conversely, if Bitcoin holds above this level, it could signal resilience, attracting more buyers. Here’s the thing: while the fundamentals are strong, the market’s sentiment can shift quickly. Keep an eye on trading volumes and market sentiment indicators to gauge potential reversals or further declines. The next few weeks could be pivotal, especially as we approach the end of the month, which historically has shown increased volatility.