Search results for Michael XBT
Crypto
Trader who called bitcoin bottom warns next drop could be more severe
Cryptocurrency trader Michael XBT, who is known for predicting bitcoin’s 2022 bottom, has again warned of the possibility of a further steep drop. He said bitcoin has already fallen about 12 percent on a weekly basis, but the next leg down could be harsher. Citing a long-term chart support line, he said a clear break could trigger liquidations similar to the market collapse seen after the 2022 FTX liquidation episode. He also disclosed gains on a leveraged short position.
Crypto
XRP tests $1.80-$2 resistance as trader flags possible new high this year
Bullish calls are emerging that XRP could set a new record high this year. Blockchain outlet The Crypto Basic reported that veteran trader Michael XBT said XRP’s parabolic rise could begin within days and become the year’s biggest breakout. He sees XRP testing a key resistance zone after a long consolidation. Market focus is on $1.80 to $2. A break above could open a move toward $3 and beyond.
Crypto
Bitcoin veteran with 100 percent win rate says he bought 10 times more XRP when retail investors sold
A veteran Bitcoin investor has drawn attention again by reaffirming strong confidence in XRP. Michael XBT, active since 2014, said XRP remains his largest altcoin position and that his publicly disclosed cumulative buying has risen nearly 10-fold even during the latest market correction. He previously cited technical patterns and stepped up purchases. XRP has risen about 20 percent in the past week to around $2.25, and he expects a strong move back toward $3.