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Bitcoin (CRYPTO: BTC) tapped $82,000 on Monday, yet Michael Terpin says the rally may be setting up another short opportunity before the next major leg higher.
Why Terpin Is Bearish Short Term
Speaking at Consensus Miami, Terpin, founder and CEO of Transform Ventures and often called crypto’s “Godfather,” said his fund is currently shorting BTC while targeting another move lower before a long-term recovery.
Terpin said he still believes Bitcoin eventually reaches $1 million by 2033 but argued the current cycle has not fully completed its capitulation phase.
“We think we’re pretty confident about 2-to-1 odds that we are going lower,” …
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