- Main event: Sigma Capital’s CEO forecasts potential Bitcoin drop.
- Prediction: Bitcoin could decline up to 70%.
- Long-term outlook: Bitcoin may reach $1 million in a decade.
Vineet Budki, CEO of Sigma Capital, warned at the Global Blockchain Congress in Dubai of a potential 70% Bitcoin drop while predicting a $1 million target per coin long-term.
The warning underscores possible short-term volatility in Bitcoin markets, sparking discussions on its utility and investor understanding amidst contrasting opinions on its future price trajectory.
Vineet Budki, CEO of Sigma Capital, projects Bitcoin (BTC) could experience a 70% drop in the next market downturn. His outlook, however, suggests a long-term price target of $1 million per coin within a decade.
During the Global Blockchain Congress 2025 in Dubai, Budki emphasized that Bitcoin’s utility remains strong, but unfamiliar investors create selling pressure. His views contradict those of industry leaders like Arthur Hayes and Seamus Rocca on Bitcoin’s cyclical patterns.
If such a downturn occurs, it could affect market sentiment and correlated assets like ETH and other altcoins. Historical patterns show a significant impact on DeFi protocols and altcoin liquidity during similar market corrections.
“Bitcoin will not lose its utility if it comes down to $70,000. The problem is that people don’t know its utility, and when people buy assets that they don’t know and understand, they sell them first; that is where the selling pressure comes from.” — Vineet Budki
The potential financial implications are prominent, with 4 million BTC held by major institutions. This stabilizes market volatility despite the risks outlined. Major players continue to view BTC as a risk-on asset amid changing market dynamics.
Despite the near-term prediction, long-term growth remains a focal point. Budki suggests Bitcoin’s adoption will grow, driven by real-world use and price speculation, nurturing an optimistic future despite anticipated market fluctuations.
Looking ahead, possible outcomes include financial shifts, intensified regulatory scrutiny, and new technological advances. Historically, Bitcoin cycles have endured, yet macroeconomic influences now significantly dictate its trajectory more than cyclical forces.
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