A cryptocurrency trader, claiming to be yet another ‘guru’ of analysis, predicted a tense downward path for Bitcoin, which was eventually derailed by the currency’s rally, which rose sharply in the days following its review.
Carl Runefelt, known on social media as “The Moon Carl”, is a YouTube entrepreneur and cryptocurrency trader. He was already on the Forbes Under 30 list when he appeared as a Bitcoin supporter.
On July 13, his followers noticed that he published a totally pessimistic analysis, which showed that bitcoin could soon fall to $13,000.
#Bitcoin could drop to $13,000.
— The Moon | Carl (@TheMoonCarl) July 13, 2022
In February 2022, he rose to prominence after being spotted live on a demo account, raising suspicions about the quality of his reviews.
“Guru” Predicts Bitcoin Drop And Coin Rises 23% In Seven Days
As the cryptocurrency market has gone through a bad moment in recent months, forecasting has become common among analysts in this market, especially those influencers who publish more often.
And The Moon Carl did just that on July 13, when he stated that Bitcoin’s price would drop to $13,000. If this prediction turns out to be correct, it would be one of the biggest declines for BTC in recent years, reaching an extremely pessimistic price.
But the Bitcoin “guru” did not expect the coin to rise in price, appreciate strongly and with increasing volume after his analysis of the fall. After seven days of Carl’s forecast, BTC is up 23%, more than $10,000 above what he believed, which costs $23,800 today.
Realizing that his analysis was wrong, Carl tried to correct his prediction for Bitcoin’s bullish, now announcing that the price will rise to $48,000 in the next two weeks. However, the new analysis was not very well digested by his more observant followers.
“BITCOIN REACHES $48,000 IN 2 WEEKS”.
🚨 BITCOIN BREAKS TO $48,000 IN 2 WEEKS!!!!!!!!!!!!!!!https://t.co/ySeTp13WnA
— The Moon | Carl (@TheMoonCarl) July 19, 2022
Internet does not forgive
As the cryptocurrency guru quickly changed his mind about the bitcoin movement, even charting a massive rally for the next two weeks, the internet was not forgiving.
For example, one of his followers shared that since the trader indicated that momentum is bullish, it is good to keep an eye out for a possible decline in Bitcoin. That is, it is as if traders are willing to trade contrary to what The Moon Carl says publicly.
Should I sell now? $BTC pic.twitter.com/cOcokWaZL7
— Trader_J (@Trader_Jibon) July 19, 2022
The case shows that following analysis from “analysts” and gurus in a high volatility market is a very risky strategy, even if it has a large following and clear knowledge of what it is talking about.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
