Sigma Capital CEO Vineet Budki has issued a stark warning about Bitcoin's price trajectory, predicting a significant retracement of 65% to 70% within the next two years. Despite this short-term bearish outlook, Budki remains highly optimistic for the long term, projecting that Bitcoin (BTC) could reach $1 million per coin within a decade.
Budki shared these insights at the Global Blockchain Congress 2025 in Dubai, emphasizing that historical market cycles and investor psychology are key drivers. He noted that past bull runs have often been followed by steep corrections, sometimes exceeding 70%, and suggested that similar patterns could repeat due to factors like institutional involvement, macroeconomic shifts, and regulatory decisions. "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," Budki told Cointelegraph.
While Budki's forecast highlights potential volatility, he underscored that increasing institutional interest, expanding crypto infrastructure, and global monetary instability could fuel Bitcoin's long-term growth. The discussion also touched on debates about Bitcoin's four-year cycle, with some analysts like Arthur Hayes arguing it is dead due to macroeconomic influences, while others, such as Xapo Bank CEO Seamus Rocca, believe it remains relevant. Additionally, institutional holdings are substantial, with over 4 million BTC (nearly 20% of the total supply) held by entities like governments and ETFs, according to BitcoinTreasuries.NET.
Investors are advised to approach such predictions with caution, focusing on risk management and patience, as Bitcoin's journey may involve turbulence but could offer strong entry points for long-term holders.
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