Bitcoin’s Drop Feels Like 2017 Crash—Crypto Exec Sees Strong Rebound
Bitcoin’s latest dip “looks, smells and feels 100% just like 2017,” says a crypto executive, pointing to rising liquidity, policy shifts, and economic uncertainty.
Bitcoin’s 11th Major Correction in a Decade: ‘Buckle Up’
Bill Barhydt, CEO of crypto firm Abra, shrugged off concerns over bitcoin’s recent slump, reminding investors that similar corrections have occurred repeatedly over the past decade. On March 10, BTC saw another volatile session, briefly dipping to $76,600 before recovering slightly.
“Ya’ll never change,” he posted on X that same day. “Bitcoin is now experiencing its 11th 25%+ correction in ten years and every time everyone reacts like the sky is falling and every time everyone screams that it’s different this time.”
Drawing a parallel to past cycles, he added:
“This pullback looks, smells and feels 100% just like 2017 to me. Rising fiat liquidity leading to massive asset price gains.”
Barhydt linked current market movements to policy decisions by the new U.S. administration, noting efforts to lower Treasury rates for debt refinancing, ease mortgage rates to support real estate, and reduce Treasury rates to address banking stability. He also highlighted China’s economic troubles, commenting:
“China is in a deep recession and needs lower U.S. rates to support its own money printing regime. And print they will.”
Predicting broader economic shifts, Barhydt warned of upcoming job losses, writing:
“We’re likely going to see massive job cuts via government cuts, tech cuts and housing-related cuts. At the same time ISM will likely rise for the next several months.”
Despite the turbulence, he remained optimistic about financial liquidity fueling asset markets, stating:
“All of this tells us liquidity will continue to flow and the markets will do what they always do in this type of cycle. That liquidity will flow into stocks, bitcoin, crypto and real estate.”
Wrapping up with a word of caution and confidence, he told investors:
“Once again… buckle up.”
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