Jordan Belfort: Bitcoin's death is coming

Jordan Belfort, also known as the Wolf of Wall Street, believes that Bitcoin's death is coming.

According to Belfort, the repeated downturns in June show that BTC is approaching its "last days". The Wolf of Wall Street said there was going to be a major disaster that would make sense of the perceived value of the cryptocurrency.

Let's think a little in terms of pure Price Action. The price is in downtrend, showing the following behavior: the growths are weak and small, while the drops are sharp and large. This means that big Bitcoin investors use every little correction to sell.

Belfort also referred to his past (the accusations against him for stock market manipulation) to explain why BTC is targeting a catastrophe. According to him, the perceived value of Bitcoin falls into the "big fool theory" category. He blames bulls like John McAfee in cheating the crypto community with false promises. According to Belfort, the only reason they do is try to lure more people, create unrealistic predictions about absurd price values.

If we go back to the above considerations and pay attention to price behavior, Belfort's opinion seems unshakable.

Source: Reuters

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