Cryptocurrency market sentiment can be as volatile as cryptocurrency price action, including leader Bitcoin (BTC). Amid growing bullish sentiment, Bitcoin short sellers are doubling down on their stance that a “massive bear market” is forming.
In particular, a cryptocurrency trader and analyst Xanrox posted the idea on TradeView warning of an upcoming 50% BTC crash. Sharing the idea, Xanrox believes that this is a good opportunity to short Bitcoin amid positive price dynamics.
Essentially, the analysis is a “false bull flag” within the short-term downtrend since the all-time high of $73,800 in March.
Interestingly, bull flags are usually highly accurate indicators of upward continuation after a short period of consolidation. Therefore, a “false bull flag” will require reliable counterpoints to confirm a long-term trend reversal against this popular chart pattern.
‘Cabal’ Blamed for Warning of ‘Start of Massive Bear Market’
XanroxHowever, the short seller did not provide counter-indicators, instead blaming the “false bull flag” on what he calls the “Cabal,” a group of influential individuals who create illusions and manipulate public perception.
“Exactly, Bitcoin is falling by 80% – 90% every 3 years. Of course, this is not natural, it is caused by the colossal manipulation of the Cabal (banks, governments, world organizations (WEF, WHO, etc.). They all work together to create an illusion for you. They will not tell you that every person naturally has strong abilities, such as telekinesis (moving objects with your mind) or telepathy (you do not need to use a phone to communicate over long distances). There are natural abilities that every person has without exception. And I do not want to talk about magical powers, leaving the physical body during sleep (astral travel) or meditation, maybe in the next post. These are the abilities that the Cabal does not want you to use.”
– Xanrox
Moreover, the analyst believes that the expected interest rate cut at the Federal Reserve meeting on September 18 will be “bearish news” for cryptocurrencies and stock markets, which is generally contrary to the opinion of financial experts.
Bitcoin Bullish Forecast
In contrast, Grayscale researcher Zach Pandall recently commented on how a “rate cut” would be positive for Bitcoin. Pandall explains that the Federal Reserve is likely to cut rates by 25 basis points (bps), despite a higher chance of market pricing at 50 bps.
At the time of writing, Bitcoin is trading at around $56,683, and four other analysts believe the worst is over. Namely, CrypNuevo, ForexX Thinking, Reliable cryptocurrency, And Crypto-Physical – as Finbold reported throughout the week.
Despite this unpopular opinion predicting a “massive bear market” for Bitcoin driven by the Cabal and contrary views from trading experts, BTC investors and traders should do their own research and draw their own conclusions based on the signals and indicators available.
Forecasting cryptocurrencies is a difficult task even for professional traders, and caution is needed when speculating in this market.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
