"Understood but when do you think the crypto market will crash?"
After predicting that the cryptocurrency market will face a crash in 2022, an investor named Chris Burniske recently predicted that the digital asset will see bleeding again before the bullish movement begins.
Burniske, a partner at venture capital firm Placeholder, has told his 262,300 Twitter followers on his account that he expects the crypto to plunge as much as 40% first before continuing to rally in 2024.
So here it can be seen that the crypto market will soar in the next year until 2025 right after the price falls by 20% or 40% this year, but the question now is when will the decline in the price of digital assets start?
Comment Bruniske again, the crypto market can plunge drastically when the Federal Reserve (Fed) takes a hawkish stance in their monetary policy.
According to Fed Chairman Jerome Powell, the central bank of the United States (US) may raise interest rates more this year to lower inflation, therefore it could have a negative impact on risky assets such as crypto.
Burniske also believes that the crypto market will see a smooth upward movement only after the Nasdaq 100 index (NDX) makes horizontal momentum.
This is because the price of BTC since 2019 has made massive jumps several times when NDX calmed down.
As of this writing, BTC price has slipped by 0.64% to $30,353 in the last 24 hours with a market cap of $589 billion further recording a 0.57% decline over the last week.
