Last weekend witnessed a significant decline in Bitcoin prices that continued throughout the week, resulting in a $4,500 drop and erasing $167 million in BTC long positions within just an hour. Despite this turbulence, onchain analyst Willy Woo forecasts a potential rise in Bitcoin’s price to $650,000. Robert Kiyosaki, author of “Rich Dad Poor Dad,” remains skeptical about investing in Bitcoin ETFs, preferring the actual asset. Former Bitmex CEO Arthur Hayes anticipates a downturn in crypto prices around the upcoming Bitcoin halving, choosing to abstain from trading during this period of expected market weakness.
Massive BTC Market Turbulence, Analyst Predicts $650K BTC Price, and More — Week in Review
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Massive Bitcoin Market Turbulence Triggers $4,500 Crash; $167M in BTC Longs Erased in 1 Hour
The price of bitcoin continued to decline over the weekend, dropping an additional 7.7% in the last 24 hours. It plummeted to a daily low of $61,384 per coin, prompting a significant wave of leveraged liquidations on Saturday.
Analyst Predicts $650K Bitcoin Price Once ETF Investors Fully Deploy Asset Manager Recommendations
Popular onchain analyst Willy Woo has predicted a potential bitcoin price surge to $650,000 at the bull market’s peak. His prediction hinges on spot bitcoin exchange-traded fund (ETF) investors fully deploying their assets based on recommendations from asset managers. “These are very conservative numbers. Bitcoin will beat gold cap when ETFs have completed their role,” he stressed.
Robert Kiyosaki Explains Why He Won’t Buy Bitcoin ETF
Rich Dad Poor Dad author Robert Kiyosaki has explained why he won’t invest in a spot bitcoin exchange-traded fund (ETF). “Just as I own gold and silver coins and mines and own apartment houses, I do not own gold or silver ETFs,” he stressed. The famous author stated this week that he believes the price of bitcoin will reach $2.3 million.
Former Bitmex Chief Expects Crypto Prices to ‘Slump’ Around the Bitcoin Halving
Former Bitmex CEO Arthur Hayes has explained why he believes that “ bitcoin and crypto prices in general will slump around the halving.” He added that from now until May 1, he “will be in a no-trade zone,” emphasizing that “April will experience extreme weakness in risky asset markets.”
Did bitcoin’s price decline this week cause any consternation? Share your thoughts and opinions about this subject in the comments section below.
