Rafał Zaorski believes that the bitcoin price will drop soon. Reason? Halving!
Rafał Zaorski is playing on bitcoin declines
Bitcoin halving is behind us. The rate did not react to the division of the prize by jumping. Today, 1 BTC costs approximately USD 66,400, which translates into increases over 7 days, but only by 5%.
Rafał Zaorski, the most famous Polish speculator, claims that declines are ahead. On Monday, he claimed that the price of $66,400 for bitcoin is the last chance to sell BTC quite high.
What he means is that the main market paradigm (“it is halving, it will grow”) will be broken.
In his last post on X, he compared the mood on the bitcoin trading floor with what he saw on the Terra/Luna market, i.e. the infamous Do Kwon project, which collapsed with a loud bang, generating large losses for investors.
The rubber band of “Bitcoin enthusiasts” in the comments is the same as in the past of sleepwalkers – what beautiful emotions they are – a little more and they will stop laughing under the posts. The end is near #bitcoin #short. Let them just get some liquidity and Wall Street will do the rest
– he warned in the post.
Are we facing declines?
Are we actually facing a deeper correction? No one knows. However, playing against BTC declines today is – at least in my opinion – risky.
The halving phenomenon consists in the market getting used to the fact that after the division of the reward for miners, the bitcoin price increases (a self-fulfilling prophecy), but also in the fact that the supply of new bitcoins is decreasinga To stay on the market, mines must sell coins at higher prices. Now again Spot ETFs in the US and Hong Kong could further suck liquidity from stock exchanges. This will lead to strong growth rather than a crash (not to mention a disaster like Terra).
Of course, the increases will not come immediately, as I suggested in my article about halving.
QCP Capital analysts indicate in their report that we will have to wait a few weeks for stronger growth:
In previous years, the spot price increased exponentially 50-100 days after each of the three halvings. If this pattern repeats this time, the bulls (…) will still have weeks to build a larger long position.
