Former Meta Engineer Patrick Shyu Reveals Why He Sold Entire Bitcoin Position Despite Long-Term Bullish Outlook

Former Meta engineer Patrick Shyu has liquidated his entire Bitcoin position, saying he expects the cryptocurrency to face challenges from declining market attention in the near term.

Shyu, who recently returned to public view after a period of silence, said Bitcoin’s price momentum depends heavily on sustained investor interest. He argued that past market trends, including the NFT boom, showed that assets can struggle when attention and participation fade.

He added that artificial intelligence has become the main focus of market participants, overshadowing Bitcoin and reducing the likelihood of a new wave of buying in the short term.

Despite selling his holdings, Shyu said he remains bullish on Bitcoin’s long-term prospects and intends to buy back into the market if prices fall to more attractive levels.

Source: TechLead