David Hunter, Chief Strategist at Contrarian Macro Advisors, known for his analysis of global markets, made striking statements of great interest to Bitcoin and cryptocurrency investors. Resp
David Hunter, Chief Strategist at Contrarian Macro Advisors, known for his analysis of global markets, made striking statements of great interest to Bitcoin and cryptocurrency investors.
Responding to Natalie Brunell’s questions, Hunter indicated that technically downward pressure on Bitcoin could continue, pointing to a sharp correction wave.
David Hunter, recalling that he shared a technical chart analysis when the Bitcoin price was above $100,000, said that the downtrend could deepen. Stating that technical momentum, rather than fundamental factors, determines decisions in the market, the renowned analyst summarized his short- and medium-term goals for Bitcoin with the following words:
“When Bitcoin was above $100,000, I made a technical analysis and said the price could initially drop to $75,000. Now I predict the next step could be $50,000.”
Hunter stated that the biggest psychological factor behind the declines was retail investors who entered the market at high prices (between $100,000 and $120,000) with the “desire to catch the peak.” He noted that these investors are now at a loss and have started selling in a panic.
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The macro analyst stated that negative momentum in bear markets is self-reinforcing, but pointed out that the real big risk lies in corporate debt and leverage usage.
“Just like in the silver market, momentum begets momentum in Bitcoin. Those who joined the upward rally at the last minute are now at a loss and giving up. But the real danger is that players like Michael Saylor, who held positions with high leverage, will be cornered by this negative pressure.”
Hunter argues that the Fed will have to print a massive amount of money, perhaps $20 trillion, to rescue markets in the future, and predicts that one of the biggest global collapses in history will occur just before this process.
While Bitcoin supporters see it as the “ultimate financial safe haven,” Hunter, maintaining a cautious stance, said that whether Bitcoin is a real asset can only be proven by this major crisis.
“I’ve always said to people in the Bitcoin world: I want to see how Bitcoin will fare during this global downturn. After watching how BTC survives during this major crisis, we’ll be able to definitively understand whether it’s a ‘real and resilient’ asset as everyone claims.”
*This is not investment advice.
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