Former Strategy CEO Michael Saylor is unfazed by the most recent Bitcoin price drop.
In his most recent social media post, the entrepreneur claims that the leading cryptocurrency is currently "on sale."
Earlier this week, the price of the leading cryptocurrency plunged below the make-it-or-break-it $100,000 level for the first time in roughly four months. As a result, Bitcoin market sentiment has plunged into "extreme fear" territory.
The cryptocurrency is currently changing hands at $103,003 after paring some gains.
The last time Saylor tweeted that Bitcoin was “on sale,” in August, the cryptocurrency went on to record substantial gains, eventually hitting a new all-time high in early October.
$150,000 by EOY?
As reported by U.Today, Saylor previously predicted that the price of Bitcoin could hit $150,000 by the end of the year during an interview with Schwab Network earlier this year.
However, it is rather safe to say that this target appears to be out of reach for the bulls.
According to Polymarket bettors, there is only a 9% chance of BTC hitting the aforementioned level during the remainder of the year. For comparison, there was a 51% chance of the cryptocurrency hitting that price mark in June, which shows just how bearish the sentiment has become following months of rather anemic price action.
Even Alex Thorn, head of research at Galaxy Digital, has now thrown in the towel, lowering his year-end forecast to just $120,000.
Bitcoin is currently down roughly 19% from the all-time high of $126,080 that was reached back in October.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team