- Analyst explores why and how Bitcoin price pumped.
- Specifically, he focuses on the pump from $15,000 to $126,000.
- He shares a cynical take of BTC pumping with 3 reasons and now expects a huge dip.
The sudden decline in Bitcoin and Ethereum prices has left many baffled, especially as most analysts were expecting higher ATH prices in the final quarter of the year. So as to gain some perspective over the rapid climb in BTC price over the bull cycle that just concluded, one analyst explored why and how Bitcoin price pumped from $15,000 to $126,000, using three reasons.
Analyst Explores Why and How Bitcoin Price Pumped
Over the past few weeks, the price of Bitcoin and Ethereum has been on a steady decline led by a sudden pump that took BTC from trading at 6-digit prices and dropped to the $80,000 price range. Most recently, both BTC and ETH are seeing a heavy decline in their prices drying out any hope for a continued bullish BTC rally or ETH reentering price discovery, or altseason playing out this cycle.
In fact, in the last 24 hours alone, the price of the pioneer crypto asset, Bitcoin (BTC), is down by over 9% falling from $91,000 to $82,000, and continuing to dip at a rapid unstoppable pace. Similarly, the price of the pioneer altcoin asset, Ethereum (ETH), has fallen over 9% in the last 24 hours as well, taking its price from the $3,000 price range to the $2,700 price range in a rapid price decline.
As we can see from the post above, one reputed financial analyst goes on to observe how the price of BTC pumped from $15,000 to $126,000 in the bull market phase over the last couple of years and shares 3 main reasons that led to this immediate boom in price. Firstly, he draws attention to Tether and calls it the largest fraud on planet Earth. He then talks about how Tether pumped out billions of fake USDT daily and funneled it into Bitcoin and altcoins to enrich insiders.
Next, he mentions how synthetic demand surge triggered retail FOMO and pulled in anyone chasing quick upside. Lastly, he explains how maxis pushed a fantasy about institutional demand, which barely exists outside of a debt-soaked MicroStrategy staggering toward insolvency. He also mentions how they hyped things like the fake White House ‘strategic reserve’ narrative, a stunt designed to lure in more gullible buyers.
Finally, he says that the machine has stalled and that people are realizing Bitcoin is nothing more than a worthless shit coin. Tether quietly stopped printing (because of regulatory heat behind the scenes, they aren’t telling us about), retail is spooked and selling, and people finally see the truth: there is no real institutional bid. Without constant artificial inflows propping it up, Bitcoin has literally nothing under it.
What Happens Next for BTC?
He concludes his post by stating a prophecy and says, “Remember these words, as it will come true: The entire bull run will unwind. Watching people panic at the $90,000 range is funny. They act like the big crash has already happened. It hasn’t. Bitcoin is still dangerously inflated and fragile, and the full reversal of this cycle is only getting started.” He ends the post by expecting a long crash to follow.
