One of the well-known names in the crypto money world Justin BennettHe shared his predictions about the cryptocurrency market, emphasizing that the crashes in the market happen when no one expects them.
Bennett told his 97,800 Twitter followers that the crypto bull market is still intact, but a correction could occur months later.
“I don’t think the ‘bull market’ in the cryptocurrency markets is over. Markets don’t crash when everyone expects it, and everyone is expecting a ‘crash’ right now. My baseline is that we may see another decline this year, followed by a correction in late 2022 or early 2023.”
Bennett, Federal ReserveHe believes that the stock market will not increase interest rates and reduce asset purchases aggressively, instead preferring to maintain stability in the market rather than controlling inflation, especially if ‘the stock market corrects further’.
The crypto analyst says volatility could increase as a result if the Federal Reserve is forced to stay “compliant.”
“So what that means is that if the stock market is going to force the Fed to stay aligned longer, we may be in for more volatility in the short term. But ultimately, I don’t think this crypto bull market is over yet. Regardless, the next few months are going to be very interesting.”
Bennett also in a newsletter bitcoin priceHe also stated that if the coin manages to stay above $35,000, it can rise to the resistance level between $40,000 and $42,000.
However, if Bitcoin (BTC) falls below $35,000, there could be an additional 20% drop.
“It is very important that we stay above the $35,000 level for now. If we do, the $40,000-42,000 level will now turn into a resistance followed by the $45,000-46,000 level as resistance. On the other hand, a daily close below the $35,000 level could bring the price down to $30,000.”
Bitcoin is trading at $36,655 at the time of writing.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.