Why Crypto 'Godfather' Michael Terpin Says He's Shorting Bitcoin
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Bitcoin tapped $82,000 on Monday, yet Michael Terpin says the rally may be setting up another short opportunity before the next major leg higher.
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.
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Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Bitcoin tapped $82,000 on Monday, yet Michael Terpin says the rally may be setting up another short opportunity before the next major leg higher.
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.
Don't Miss:
https://finance.yahoo.com/...
22 days ago
