Important Trader Issues New Warning On Bitcoin

It’s been just revealed that there is an important trader who issued a warning about Bitcoin. Check it out below.

It’s been reported that an important crypto analyst is warning traders to be on the lookout for tough months ahead as the markets retrace.

Crypto trader Justin Bennett said recently that the total crypto market cap (TOTAL) is on its way down.

TOTAL is a market cap measure of the entire digital asset space, Bitcoin (BTC) and altcoins included.

Bennett also addressed some warning signs for the crypto markets in the traditional financial markets. He made sure to highlight the fact that the S&P 500’s (SPX) recent drop spells trouble for crypto.

“It isn’t looking good for stocks and crypto, barring a significant recovery from SPX today.”

BTC is worth $28,600 at time of writing, just above the $28,450 price zone that could trigger a massive dump, as highlighted by Bennett.

Two days ago, Bennett said the fact that he was keeping an eye on how Ethereum (ETH) was trading against BTC (ETH/BTC).

“Eyes on ETH/BTC today.

Waiting to see if this is a bearish deviation.

If so, and we get some short setups, you’ll want to choose ETH over BTC.

No confirmation yet.”

According to the Rich Dad Poor Dad author, Bitcoin will hit $500,000 by 2025, largely driven by the Federal Reserve loosening monetary policy and embarking on a money-printing spree.

“Giant crash coming. Depression possible. Fed forced to print billions in fake money.”

He continued and stated the following:

“By 2025 gold at $5,000 silver at $500 and Bitcoin at $500,000. Why? Because faith in US dollar, fake money, will be destroyed. Gold & Silver Gods money. Bitcoin [is the] people’s money. Take care.” Check out our previous article in order to learn more details.