TLDR
- Andrew Tate predicts that the Bitcoin price will crash to $26,000.
- Bitcoin recently dropped 16% from its all-time high of $ 69,044.
- Tate believes overconfidence and high-leverage trading are driving the decline.
- He claims Bitcoin will fall further as long as traders expect a quick rebound.
- Analysts like Samson Mow remain optimistic and expect Bitcoin to surge in the future.
Bitcoin (BTC) price may drop to $26,000, according to influencer Andrew Tate, as the crypto market faces ongoing pressure. The claim follows a 16% decline from Bitcoin’s recent all-time high of $ 69,044, reached earlier this month. Tate believes overconfidence and leveraged trading are key reasons for the continued decline.
Bitcoin Price Drops Despite Uptober Hopes
Bitcoin price started October with strong momentum, rallying quickly to a record high of $126,200. However, it has since reversed sharply, falling to $105,520 amid weakening investor confidence. Many had expected the month to be bullish, often referring to it as “Uptober.”
Instead, Bitcoin price slipped 16% in two weeks, defying optimistic forecasts from the start of the month. Data from TradingView shows a drop to $104,000 last week, triggered by concerns over U.S. tariffs. It bounced back briefly to $113,000 but has now resumed its decline.
Andrew Tate responded to the downturn with a bold claim, saying, “Bitcoin is going to $26,000.” He said current optimism is unsustainable. According to Tate, excessive leverage and borrowed capital are accelerating losses.
Andrew Tate Warns of Leverage and Market Psychology
Tate argues that high-leverage trading is fueling the ongoing decline in Bitcoin price. He believes traders are risking more capital after recent losses, hoping for a quick recovery. “It is going down because you think it won’t,” he said in a recent video.
The influencer claims the market continues falling because investors believe it has already bottomed. He says this belief drives risky trades with high margins. As losses grow, more traders enter with desperation, increasing volatility.
Tate also warns that market optimism could lead to further drops. He stated that Bitcoin price will keep declining until confidence fades completely. The asset, according to him, will recover only when traders stop trying to win everything in one trade.
Analysts Remain Divided on Bitcoin’s Future
While Tate predicts a Bitcoin price collapse to $26,000, other analysts remain positive about its long-term potential. JAN3 CEO Samson Mow said the next move in Bitcoin would be “face-melting,” signaling a strong rebound. Mow believes BTC will reach $1 million by December 2025.
Despite the current decline, the presence of ETFs and institutional support may reduce downside risks. Previous crashes, like the 2022 drop after the FTX collapse, saw Bitcoin fall 66%. However, Bitcoin price had been lower than $26,000 as recently as October 2023.
Meanwhile, critics like Peter Schiff highlighted gold’s outperformance, noting its rise to a $30 trillion valuation. Schiff claimed gold is more likely than Bitcoin to reach $1 million. Nevertheless, Mow believes Bitcoin will outperform gold once the next rally begins.
