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Analyst who accurately predicted 2021 crypto collapse warns of a ‘larger washout' [Yahoo! Finance]
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As of Feb. 25, Bitcoin is trading at approximately $89,333, down 10% in the last 24 hours. The total crypto market cap has also fallen sharply, with major coins like Ethereum and Solana following Bitcoin's downward trend. Pseudonymous crypto analyst Dave the Wave, known for predicting Bitcoin's past cycles, said this drop was expected. “BTC is back in the 80s. Why is this not panic stations? Because it was predictable on the TA,” he wrote on X. He believes Bitcoin is currently testing key support levels and is still waiting for a "larger washout" before finding a true bottom. The 2021 crypto collapse was triggered by a combination of factors, including China's crackdown on Bitcoin mining, Elon Musk's reversal on Tesla accepting Bitcoin payments, and regulatory concerns from the U.S. and other major economies. Bitcoin fell from its all-time high of $69,000 in November 2021 to around $30,000 by mid-2022, wiping out over $1 trillion from the market. The crash also led to mass li
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