Stock Track | Grayscale Bitcoin Mini Trust Plunges 5% as Veteran Trader Warns of Potential Crypto Crash-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Stock Track | Grayscale Bitcoin Mini Trust Plunges 5% as Veteran Trader Warns of Potential Crypto Crash

Stock Track01-07

Grayscale Bitcoin Mini Trust (BTC) saw a significant 5% plunge in its stock price on Tuesday, driven by concerns raised by veteran trader Peter Brandt about a potential crypto crash. Brandt warned that many traders might get overleveraged and miss the top, leading to a potential 50% correction in Bitcoin's price and a staggering 90-100% crash in altcoins and meme coins.

Despite Brandt's grim forecast, several analysts remain optimistic about Bitcoin's future. The X user Lucky envisioned the ongoing bull market lasting until 2026, with Bitcoin potentially reaching $200,000. Crypto Rover and Doctor Profit also predicted new all-time highs for Bitcoin in the range of $120,000 to $125,000 within the first three months of the year.

While Bitcoin crossed the $100,000 mark, investor sentiment remains subdued, with the short-term holder MVRV ratio indicating a 10% profit, raising concerns about potential profit-taking activity. Maintaining the $100,000 level as support is crucial for Bitcoin's upward momentum. Failure to do so could trigger a correction, erasing recent gains and dampening investor enthusiasm.

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rickooo
·01-08
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