Crypto market stuck for now, but Bitcoin to make new all-time-highs within 24 months: Coinshares' CSO
Coinshares' CSO Meltem Demirors averred that a lot of weaker cryptos would be washed out in the current downturn
By Shashank Bhardwaj
Coinshares' chief strategy officer, Meltem Demirors, told CNBC that BTC has the potential to reach a new all-time high in the next 24 months while the crypto market will “stay where we are for a while”, with no catalysts acting in near sight to pull the market from the bear phase.
On July 11, Demirors told CNBC's Squawk Box that Bitcoin is a "cyclical asset" with peaks, valleys, and troughs at 80-90 percent in its history. Currently, the crypto asset is 65 percent lower than its all-time high in November 2021. Demirors noted that "there is still room for some downward correction”.
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