Pakistani cryptocurrency expert Waqar Zaka’s prediction of a Bitcoin crash has come true, as the leading digital asset tumbled below $80,000.
The broader crypto market experienced a massive selloff, wiping out $1 trillion and fueling concerns of a prolonged downturn.
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Waqar Zaka, a longtime cryptocurrency advocate in Pakistan, had warned investors in December 2024, emphasizing that crypto trading wasn’t a guaranteed path to wealth.
In one of his videos, he cautioned traders against recklessly investing their life savings, urging them to analyze market trends and make informed decisions.
Bitcoin’s latest crash represents a nearly 25% drop from its record high of around $110,000 in December. The decline follows a week-long slump in the crypto market, with Bitcoin hitting a three-month low.
Initially, Bitcoin surged after US President Donald Trump’s election victory in November, as he was seen as supportive of crypto. However, market sentiment has since shifted due to concerns over Trump’s proposed tariffs, economic uncertainties, and ongoing global conflicts, including the Russia-Ukraine war and Israel’s military actions.
The broader selloff has also impacted other major cryptocurrencies like Ethereum and Solana, which have faced steep losses.
Analysts now warn that further declines are possible unless there is regulatory clarity and macroeconomic stability.
Investors and crypto enthusiasts remain on edge, closely monitoring Bitcoin’s next move amid growing fears of an extended bear market.
