Bitcoin price dropped to $98.5K amid Israel-Iran tensions, but ex-Binance CEO CZ says it’s just a dip before the next all-time high.
The Bitcoin price has transformed from a bearish to a bullish phase over the past year, reaching an all-time high of $111.9k a month ago.
Nevertheless, the token has plummeted to a multi-month low, signifying a decline in investors’ confidence in the digital asset due to the Israel-Iran conflict and macroeconomic events.
However, the erstwhile CEO of Binance has a different perspective, referring to it as a dip before the ATH.
We should engage in a conversation.
Crypto Market Is Experiencing Crash As Bitcoin Plummets By Approximately $100,000
The Bitcoin price plummeted to $98.5k due to the surge in the Israel-Iran conflict, particularly after the United States entered the conflict.
This is the first time BTC has fallen to this low in months, which has caused protracted fear among holders.
Traditional assets are in demand, causing the collapse of BTC, ETH, and other assets as investors become increasingly apprehensive about the ongoing geopolitical situation.
The crypto market crash that occurred today was precipitated by dread, which resulted in the loss of 1.24% of the global market capitalization.
Furthermore, the liquidation resulted in a loss of $658M, which affected 187,503 merchants.
The market is presently devoid of bullish catalysts, which puts it at greater risk.
The prospects of a bull run in 2025 have faded, and the altcoin season index has collapsed to its two-year low.
Many experts predicted that the BTC price would reach a new ATH of approximately $150k by this time earlier this year.
Nevertheless, the trajectory has been altered by the delayed interest rate change and geopolitical tension.
Intriguingly, the silence before the tempest is referred to as such by experienced market investors and industry leaders, such as the former CEO of Binance.
Binance CEO Has Stated That Everything Will Dip Before ATH
Chanpeng Zhao, the former CEO of Binance, maintains that each decline is merely a temporary blip before the cryptocurrency reaches its all-time high.
Nevertheless, this is not the case for all cryptocurrencies; instead, it applies to a limited number of them with the potential and demand.
According to CZ, the obvious query is whether there will be a next ATH rather than worrying about the dip.
He also states that only a few strong coins can pull off this feat. Seek outgrowth potential and long-term staying capacity.
SightBringer and other experts dissect CZ’s assertion and argue that Bitcoin is structurally designed to support new ATHs, citing its scarcity and demand.
The long-term Bitcoin price prediction remains bullish despite the altered trajectory, and many recognize that each decline is a precursor to the new ATH.
The discussion of limited coins reaching this level reveals the market’s volatility.
Additionally, it targets the utility-less token, which cannot withstand the market’s volatility, shifting trends, and competition.
Investors must maintain a strategic approach to trading and remain vigilant of the tangible and technical events occurring in the cryptocurrency sector.
