Key Highlights:

• Markus Thielen from 10X Research is not ready to invest despite the current prices.
• A speculative bubble has burst, making it unlikely for new bullish trends to arise quickly.
• Bitcoin is projected to reach $73,000.

“Is it safe?” This question haunts crypto investors with cash left after the recent price drops.

Markus Thielen of 10X Research had anticipated this downturn, expressing hesitation about buying in now.

Broader Context

The recent collapse parallels the downturn in DeFi and NFTs after the 2021 bull run, which significantly affected ETH without recovery. Similar downturns in memecoins have hit tokens like Solana (SOL) hard.

Thielen’s Analysis: “This structural decline indicates a weakening foundation, making now a time for caution — not complacency. Bitcoin is steadily heading toward $73,000… if history is a guide, the next significant upward move will necessitate a new narrative.”