Bitcoin is once again at the center of controversy. Financial analyst Jacob King warns that the cryptocurrency could be on the brink of a major crash.
Mining Centralization Risks
King claims that Bitcoin mining has become dangerously centralized, with two pools controlling the majority of the network's hash power. This raises concerns about a possible 51% attack.
Whale Exits and ETF Selling
He also highlights an unprecedented exodus of large holders and declining ETF inflows, contributing to hidden pressure on the market.
The Michael Saylor Controversy
King criticizes Michael Saylor for issuing stock below a promised threshold, undermining trust in MicroStrategy and the broader Bitcoin narrative.
In conclusion, King ties together issues of mining centralization, whale exits, and diminishing government interest, which could lead to Bitcoin price drops. However, history shows that such collapse predictions may often be incorrect.
