bitcoinLosing 60% in value from the beginning of 2022 to the present, investors experienced a nightmare year. On top of the already ongoing bear market FTX The bankruptcy of the stock market damaged the confidence in the sector. The important names of the crypto industry are discussing where Bitcoin can go in the coming weeks in this environment.
Daniela Cambone of market research firm Stansberry Research and Clem Chambers, CEO of Online Blockchain, discussed in a YouTube post whether the worst is over for the crypto market.
Clem Chambers stated that the bad days are over, but there are worse days ahead.
“I don’t believe it’s over if we look for the downturn. People still don’t understand that centralized exchanges are bad. The real exchanges of the crypto industry are decentralized (DEX) exchanges. I define giant centralized exchanges, where investors entrust their money, as banks.”
Chambers explained that Bitcoin could bounce back from this level if nothing else goes wrong. However, according to the CEO, it is inevitable that a new problem will arise. If there are problems with other crypto platforms, Bitcoin can fall as low as $ 8,000.
Crypto Expert Marked $17,000 In September
Online Blockchain CEO Clem Chambers announced in September that he expects Bitcoin to drop to $17,000. Chambers predicted that if BTC drops to $17,000, the new target would be $10,000.
While the CEO’s $17,000 estimate was accurate, the $10,000 goal has yet to be met.
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