Bitcoin’s price reaching $250,000 too quickly could lead to a “blow-off top” moment, where investors would scramble to take profits, says a macro analyst.
Bitcoin reaching a quarter of a million dollars this year may be more trouble than its worth, according to a macro analyst.
“One of the worst things that could happen is Bitcoin shoots up to $250,000, and the S&P to 8,000 in like a 3-month period,” macro analyst and investor Mel Mattison told crypto entrepreneur Anthony Pompliano in an interview published to YouTube on Friday.
“And you get this blow-off top, and everybody rushes to the exits to take profits, and it starts going down,” Mattison said.
Read more