**Vineet Budki Predicts Bitcoin Could Drop Up to 70% in Next Bear Market, Yet Reach $1 Million Within a Decade**
Vineet Budki, CEO of Middle East-based Sigma Capital, has forecasted that Bitcoin could experience a significant decline of up to 70% during the next bear market. This prediction is grounded in Bitcoin’s historical cyclical patterns and the rapid sell-offs that typically follow unfavorable market signals.
### Bitcoin’s Potential Crash and Long-Term Value
Budki emphasizes that the cryptocurrency market often lacks a full understanding of Bitcoin’s economic fundamentals. This gap leads to hasty sell-offs, which exacerbate volatility and sharp price corrections. Based on these cyclical tendencies, he anticipates Bitcoin may drop between 65% and 70% in the near future.
Despite the looming short-term volatility, Budki remains optimistic about Bitcoin’s long-term potential. He projects that Bitcoin could reach a staggering $1 million per coin within the next decade, fueled by widespread adoption and increasing utility.
> “The next bear market could see a decline of up to 70%. Despite short-term volatility, I expect Bitcoin could reach up to $1 million per coin over the next decade.”
> — Vineet Budki, CEO, Sigma Capital
### Community Reactions and Market Sentiment
The crypto community’s response to Budki’s predictions varies, with ongoing discussions about Bitcoin’s market cycles and future prospects. As of now, no direct comments have surfaced from prominent figures such as Arthur Hayes or Binance CEO Changpeng Zhao (CZ) regarding Budki’s views.
### Historical Price Patterns and Institutional Investor Behavior
Historically, Bitcoin has experienced drawdowns ranging from 50% to 80% following previous cycle peaks—in 2013, 2017, and 2021. These patterns have also influenced price movements in correlated cryptocurrencies, including Ethereum and major altcoins.
### Current Market Snapshot
According to CoinMarketCap data as of November 2, Bitcoin is trading at approximately $109,923.61, with a market capitalization of $2.19 trillion. Bitcoin currently dominates 59.23% of the overall cryptocurrency market.
Notably, the 24-hour trading volume has decreased by 56.14% to $25.51 billion. Over the past 30 days, Bitcoin’s price has declined by 8.56%, reflecting a period of increased volatility and market adjustment.
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Budki’s forecast serves as a reminder of Bitcoin’s inherent volatility yet underscores its potential for exponential growth in the long term. Investors and enthusiasts alike will be watching closely how market cycles and adoption trends shape Bitcoin’s future trajectory.
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