The crypto market is stuck for now, but Bitcoin will reach new records within 24 months: Coinshares’ CSO
The crypto market is stuck for now, but Bitcoin will reach new records within 24 months: Coinshares’ CSO
Coinshares’ CSO Meltem Demirors believed that much weaker crypto would be washed out in the current downturn
By Shashank Bhardwaj
Image: Shutterstock
Coinshare’s chief strategy officer, Meltem Demirors, told CNBC that BTC has the potential to reach a new all – time high over the next 24 months while the crypto market will “stay where we are for a while”, with no catalysts working nearby. vision to pull the market from the bear phase.
On July 11, the Demirors told CNBC’s Squawk Box that Bitcoin is a “cyclical asset” with peaks, troughs and bottoms of 80-90 percent in history. Currently, the crypto asset is 65 percent lower than its all-time high in November 2021. Demirors noted that “there is still room for some downward correction”.
She noted strong support for Bitcoin at $ 20,000 and did not think it would fall below $ 14,000. time highs in Bitcoin. “
In June, Mark Cuban, a billionaire investor and entrepreneur, said he did not see the bear market coming over until there is a better use of applications in addition to finance.