It’s been a year of mostly declines for the cryptocurrency markets. Cryptocurrency firms have had major liquidity problems this year. In addition to the bankruptcies, many crypto money companies came to the brink of bankruptcy. In addition, these negative developments have deeply affected the entire crypto money market, along with the leading cryptocurrency Bitcoin. As we have reported as Kriptokoin.com, the fluctuation in Bitcoin price affects the entire cryptocurrency market. 4 Bitcoin masters investigated how long the downward momentum in the price of cryptocurrencies will last. Here are the expert opinions…
Bitcoin and cryptocurrency markets will take years to recover…
Bobby Lee predicted when the crypto and Bitcoin bear market would end. However, he made some important warnings to investors. Lee said that the crypto market could experience a turnaround in about 24 months. However, according to the master, the crypto money market will continue its downward momentum in this process. According to Lee, Bitcoin performed relatively well compared to other crypto assets after the collapse of the FTX exchange. Lee said that to regain trust in the cryptocurrency industry, more regulation is needed for crypto companies. The master stated:
I think the next year or two will be pretty bearish. Personally, I predict the bull market will probably return in two years. It’s hard to pinpoint exactly when the bear market will bottom out…. The entire crypto market has really dropped a lot. Bitcoin has kept itself relatively stable… I’ve always been an advocate for more regulation. To be clear, I’m talking about the regulation of companies in the cryptocurrency market. Not from the arrangement of being itself. No amount of regulation can change the chemical composition of gold or silver. And the same thing, no amount of regulation can change the composition of Bitcoin itself. What we need to regulate, however, are companies that do business with cryptocurrency, especially companies that do custodial services or store cryptocurrency for others.
Kaleo: Contrary to expectation, Bitcoin rally is very close
Crypto strategist Kaleo, on the other hand, predicts that the upcoming Christmas holiday will bring a Bitcoin (BTC) rally. According to the analyst, the majority of emotions predict a collapse. Therefore, the opposite will happen. Kaleo says that Bitcoin is showing strength at the hash rate, in a closely watched indicator. He says that since the collapse of FTX, Bitcoin has remained high despite trading below $20,000.
My entire timeline is ready for a full slump to a lower range. When the majority of the timeline agree on one thing, they’re usually wrong… Bitcoin will push up to $17,500. But then it will accelerate and continue to climb up to $ 18,500… One of the most impressive charts in the market is the Bitcoin hash rate. After more than a month of trading below $20,000, there has been no real capitulation for miners yet.
However, another closely followed crypto analyst, Capo, also shared his predictions. Capo disagrees with Kaleo’s thoughts. According to the analyst, the Bitcoin price will probably collapse. The analyst, who made a price prediction for BTC, also made a price prediction. According to Capo, the BTC price will go down to the level of 12 thousand dollars.
Fed interest rates are critically important for cryptocurrency markets
Finally, Coin Bureau host Guy also shared his views on the cryptocurrency markets. Guy said the crypto bull rally depends on whether the Fed will pull back on rate hikes next year. The analyst also added that the Fed’s pause in rate hikes is one of the most important catalysts that could “end the bear market”. However, according to the analyst, otherwise, the cryptocurrency market will experience a massive collapse.
There is no guarantee that the Fed will manage to raise interest rates to 5% or more. This is because the higher the interest rates, the more likely it is that something in the financial system will break… If the Fed follows the 2023 rate hikes, then it won’t be good. The crypto market will continue to crash until the Fed pauses and will only start to recover once the Fed pivots.
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