bctd.news
According to Pantera Capital analysts, the cryptocurrency market is in a long bearish phase.
As evidence, Paul Veradittakit, who represents the fund's research division, pointed to the dominance of negative sentiment in the camp of traders over the past four weeks.
The cryptosphere is highly dependent on the stock market, and the exit of capital from digital currencies was the result of a decrease in investor interest in the technology sector. During the previous "crypto winter" in 2018-2019, it took about 70 days for the cryptosphere to be able to get rid of stock indices.
However, Varadittakit believes that the bear market is a great time for every crypto company to gather strength and rethink their strategy for further development. For investors, this is also a useful period, as they have the opportunity to assess the situation and choose the most promising areas for future investment.
Robert Kiyosaki also believes that the market will decline. According to him, as a result of the bearish cycle, Bitcoin could fall to $17,000.
If investors begin to massively withdraw from BTC, then its price may collapse to $11,000, the famous financier predicts.