- Crypto trader Chiefy studied the Bitcoin price chart and concluded that in May Bitcoin will drop to $41,000.
- It was based on previous cycles that saw crypto whales capitulate in May.
Market cycle theory suggests that the rich plan to dump cryptocurrencies in May 2026, but is this really true?
A trader using the pseudonym Chiefy compared The current bearish trend in the Bitcoin market was compared with the previous two and I concluded that the BTC price will collapse to approximately $41,000 in May. The price of most other digital assets will fall along with Bitcoin, so a frontal dump is expected.
BTC price chart by Chiefy
This forecast is based on the hypothesis that whales and hodlers capitulate in the middle of a bear cycle, triggering a powerful downtrend that is exacerbated by trader panic. One of the signs of this approaching trend was the recent sale $20,8 million worth of bitcoins by a wealthy person, despite the losses he incurred.
In 2022, the developer of the Market Cipher trading indicator, CryptoFace, admitted that in the lead-up to the dump, he advised his friends to “close positions in May” (When it’s May go away). In other words, he knew or assumed that the bearish trend would resume in May, so it would be better to sell coins before it started.
CryptoFace was right because Bitcoin fell in price by more than 36% in a week. Therefore, if history repeats itself, the rich will again actively sell virtual currencies in May, and their value will drop significantly.
BTC price drop in May 2022
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