Chinese Founder Whose Ethereum Losses Caused Much Discussion Warns! “Beware of Bitcoin’s Rise!”

A peace agreement has yet to be signed between the US and Iran. Just before the two-week temporary ceasefire was due to expire, the mediating state Pakistan intervened, and Trump extended the ceasefire between the US and Iran.

Donald Trump’s extension of the ceasefire with Iran caused Bitcoin (BTC) to rise again, climbing above $78,000 in the morning hours.

As the Bitcoin price approaches $80,000, these increases have been enough to excite investors. While the rise is expected to continue, Jack Yi, the founder of LD Capital, who suffered significant losses in Ethereum, issued a warning about the rise.

Related News: Chinese Founder Admits He Was Wrong About Ethereum (ETH), Speaks About His Investments! Reveals His Bitcoin (BTC) Price Expectations!

Jack Yi, writing from account X, argued that the current recovery in Bitcoin and cryptocurrencies is a typical bear market rally.

According to Jack Yi, the current recovery in cryptocurrencies exhibits characteristics of a typical bear market rally.

Yi stated that Strategy’s aggressive Bitcoin buying strategy could be effective in the short term, but carries medium-term risks, especially in the event of a macroeconomic financial crisis.

However, he added that there’s no need to be pessimistic about the crypto market, because real opportunities always arise during bear markets, but buying in bull hype usually results in losses.

Besides the founder of LD Capital, the analysis firm QCP Capital also believes that the rise in Bitcoin is not real.

According to QCP Capital analysts, Bitcoin’s current recovery is driven more by risk reduction than by fundamental improvement.

Analysts noted that the options market also reflects this situation, stating that the trend among options investors is still downward and the maturity structure shows only a slight upward slope.

Finally, analysts noted that any potential future rally depends on oil prices and the direction of Fed policy. Accordingly, a drop in oil prices or a clearer signal from the Fed would support risky assets. Without these catalysts, analysts believe the market will likely remain in wait-and-see mode, pricing in uncertainty.

*This is not investment advice.

Continue Reading: Chinese Founder Whose Ethereum Losses Caused Much Discussion Warns! “Beware of Bitcoin’s Rise!”