Killa, a quant trader with 180k followers, called BTC's top at $121,362 last May, while the actual top hit $126,100.
The margin of error was less than 4%.
With this prediction, he's become a legend in the CT scene.
Now he's using the same diminishing cycle model and calculates the bottom to be between 38,800 and 42,680.
His exact words were:
"No matter what, the current price won't be the bottom. Planning to DCA into spot in July and August."
But right now, BTC is sitting at 77,500.
This means he thinks it still has to drop another 45%.
However, he's currently holding a position.
So the question arises.
In mid-April, Killa shorted BTC at 74,688, and now BTC is at 77,500.
His short position is currently in the red.
So are they just stuck and trying to push the price down a bit? 😂😂😂
Check the on-chain data, it completely contradicts his analysis.
Whales have accumulated 270,000 BTC in the last 30 days, and exchange reserves have dropped to the lowest since 2017.
ARK's Q1 report also shows that long-term holders are stacking coins at a rate of 69%.
He talks about a dip to 42,000, yet the on-chain whales are aggressively buying at 77,000.
Is the latter just a smoke screen with real cash thrown in?
Or are they all just fools?
77,500 is a tricky level.
So I'm neither going long nor short.
I'm choosing to sit on the sidelines for now; the direction hasn't shown itself yet. What if Trump pulls some stunt again, and we get another sharp drop, haha.
Better to manage risk, fellas.