Bitcoin has lost almost a third of its value over the year, and now there are forecasts of a new round of decline. Well-known venture investor and host of the This Week in Startups and All-In podcasts Jason Calacanis has urged getting rid of the coins before the situation worsens.
In his assessment, over the next 12 months the rate will return to the $57,000 mark, and the cryptocurrency will no longer update its all-time high. The investor suggests directing the freed-up funds into the artificial intelligence sector.
Arguments in favor of selling
The key signal Calacanis points to is the outflow of capital from bitcoin ETFs. In his opinion, funds will continue to leave the ETFs, and over the course of the year the rate will once again test the low at $57,000.
The investor's main complaint boils down to the fact that bitcoin offers nothing but a store-of-value function. He called it a "dead network" and noted that there are too many more vibrant areas in the market where capital creates greater value.
Calacanis saw bitcoin's strength in its viral nature, which he directly called pyramidal. Those who did not hold the coin were mocked. Now, according to him, this effect has disappeared, and ignoring bitcoin in favor of other bets has become not just normal, but more reasonable.
Signs of faded hype, according to the investor:
- no one persuades those around them to buy bitcoin anymore;
- memes about crypto and NFTs are a thing of the past;
- no one promises that bitcoin will change the world.
The world, as Calacanis emphasizes, has already been changed by artificial intelligence, and bitcoin is incapable of this. That is precisely why he calls for selling the coins and moving the money into superintelligence. Bitcoin, according to him, will never again break its all-time high.
Bitcoin's rate has fallen 30% over the year
Over the past 12 months, the first cryptocurrency has lost $34,841, or 30.41% of its value. It is currently trading around $79,700. Bitcoin's market capitalization is $1.59 trillion, and daily trading volume is about $26 billion.
The yearly high of the rate is $116,410, the low is $57,718. It is precisely to the lower boundary of this range, according to Calacanis, that the price will return in the coming year.
The deepest drop came in the summer. After it, the rate rebounded and in the autumn has been holding around $80,000. Over the past 24 hours, quotes have barely moved and remain slightly below the opening level.
Cryptalist analysis: Calacanis's forecast reflects the growing skepticism of institutional investors regarding the "digital gold" narrative amid the flow of capital into the AI sector. Nevertheless, the outflow from spot ETFs and consolidation around $80,000 rather indicate a phase of redistribution than a structural reversal. The stability of the $57,000–$60,000 range will remain the key test for the medium-term scenario.