- Tate holds back on bearish Bitcoin prediction
- Bitcoin may retest $70,000
Andrew Tate, an entrepreneur and a social media personality, has shown resilience on Bitcoin despite the broad crypto market bloodbath.
In a recent X post today, the popular social media personality disclosed plans to buy the dip on Bitcoin, scooping 50 BTC for just $101,000 each.
As such, Tate will be investing over $5 million in the leading cryptocurrency despite the high market volatility that has sent Bitcoin dropping below the crucial $100,000 level after his statement.
Tate holds back on bearish Bitcoin prediction
Tate’s decision to buy Bitcoin at a $101,000 discount has come just a few weeks after he predicted that Bitcoin could crash as low as $26,000.
While Tate is known for his mixed sentiments on the leading cryptocurrency, his bearish prediction for Bitcoin drew both skepticism and debate within the crypto community.
As such, the market community has expressed surprise at his decision to buy Bitcoin for $101,000, suggesting a shift in Tate’s expectations regarding Bitcoin’s long-term outlook.
Now, as Bitcoin struggles to hold above $100,000 amid the broad crypto market bloodbath that has ignited a sharp price correction for BTC, Tate appears ready to double down on his long-term belief in Bitcoin’s price potential.
Commentators have shown mixed reactions to Tate’s latest Bitcoin buy plan, as the announcement appears to have caught the attention of market participants.
Bitcoin may retest $70,000
While curiosity about the reason behind Tate’s Bitcoin buy plans has grown, some believe it is merely an emotional purchase near a cycle top. An analyst warned that the ongoing price movement signals late-stage bull market behavior, noting that Bitcoin could be on the verge of a deeper correction that could see it retest the $70,000 level by early 2026.
Nonetheless, other commentators have perceived Tate’s plan to buy 50 BTC for $101,000 each as an act of conviction rather than speculation, hailing his confidence in the asset’s long-term potential.
While it is currently uncertain if Tate has fulfilled his Bitcoin buy pledge, the market has seen Bitcoin plunge below the $101,000 mark highlighted in his statement.
As of the time of writing, Bitcoin is trading at $100,768, showing a notable decline of 5.56% over the last day, according to data provided by CoinMarketCap.
Source: https://u.today/andrew-tate-buys-5-million-worth-of-bitcoin-hours-before-crash
