Bitcoin sits on edge again, trading below the critical $68,000 level after a volatile stretch that erased around 28% from its price in about a month. Prices are swinging hard, and that swing has pushed smart-money talk and wild bets into the same room.
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Experts Offer Starkly Different Paths
According to some investors, a deep bargain is forming. Andrew Parish, a serial entrepreneur and outspoken Bitcoin proponent, argues that mood matters — when retail traders turn gloomy, big buyers can step in and lift markets fast.
He put a bold target on the table: $500,000 within a few years if flows and sentiment flip. Ric Edelman, a veteran investor, has a similar headline number but with a slower clock; his math rests on broad wealth moving a tiny slice into crypto over time. Both views hinge on steady inflows and more investors taking small positions in crypto.
GM.
Bitcoin sub $70K is a gift. Buy more.
In three years $BTC will trade above $500K.
— Andrew (@AP_Abacus) February 16, 2026
A Bear Case That Cuts Deep
On the other side, the warning is loud and clear. Bloomberg macro strategist Mike McGlone has painted a much darker path, saying an 85% drop could be possible and that $10,000 should not be dismissed.
Legendary Investor Ric Edelman: “I believe #bitcoin can reach $500,000 by 2030.” 🚀 pic.twitter.com/XNQFTbuA69
— Altcoin Daily (@AltcoinDaily) February 16, 2026
He points to stronger stock markets, lower market swings, and fading political tailwinds tied to US President Donald Trump as reasons capital might stay away from risky bets. Markets can be moved by big shifts in where money chooses to sit, and moments like this can put a damper on optimism quickly.
Collapsing Bitcoin/Cryptos May Guide the Next Recession –
“Healthy Correction” is what we should hear soon from stock market analysts (who risk unemployment if not onboard), following collapsing cryptos. The buy the dips mantra since 2008 may be over, here’s why:
– US stock… pic.twitter.com/fPPc2fV3EU
— Mike McGlone (@mikemcglone11) February 15, 2026
Flows And Sentiment Matter
Reports note that exchange-traded funds saw heavy withdrawals recently. On-chain readings flagged hundreds of millions in outflows in a short window. A separate fear-and-greed meter cratered to very low readings, signaling panic among small traders.
Those two facts together help explain why price fell so sharply; when many try to leave, price can slip faster than logic expects. That said, outflows can also clear the way for a different type of buyer to move in later.
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On Institutional Behavior & Lofty Price Targets
Meanwhile, institutional behavior will be the key variable. Large managers could buy when retail is jittery, and some market watchers point to companies that have built crypto desks as potential demand anchors.
Despite the uncertainty, the $500,000 mark remains the headline grabber for bullish investors. Parish’s call captures attention because it ties sentiment swings to potential market moves, while Edelman’s projections underline how even modest allocations from global wealth could push Bitcoin higher over time.
Featured image from Unsplash, chart from TradingView