JAKARTA - Bitcoin cs is predicted to face a significant decline. This view was conveyed by a strategist in the crypto world known as The Flow Horse, or Cantering Clark. He put forward the view that there may not be a bullish market period for digital assets in the future.
Analysts who use the pseudonym express their opinion to more than 181,600 of their followers on social media platform X. He expressed his doubts about the potential for changing cryptocurrencies this time.
"In the previous bearish market, many people felt everything was over. However, this time, everyone seems to believe in the idea of 'next bullish market'. I feel very confident first, [but] feel less sure now. I am more confident in the type of integration limited to traditional finance (TradFi)."
According to The Flow Horse, the crypto market has not been able to meet its expectations of developing its important utilities in the real world. This is considered an obstacle to widespread crypto adoption.
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"Promises about the future always exist, there are many scams, and almost no real-world apps outside of Swiss-Bank stablecoin and BTC (Bitcoin). In fact, things that are really going to change the global financial system don't really need tokens to make it happen," said The Flow Horse.
On the other hand, The Flow Horse is also increasingly skeptical about the upcoming bullish market prospects. Then an investor named Chris Burniske has different views. Burniske, who is a partner in venture capital firm Placeholder and previously handled crypto on ARK Invest, believes that the crypto bullish market period will arrive.
Even so, Burniske had predicted another possible decline before the bullish market period began.
"The bearish market will probably provide one more chance to lower the price of quality crypto assets by around 20-40% this year before the big parties start next year until 2025. The question is, from what price this decline will start... The Fed (Federal Reserve) will push this situation until something is resolved," Burniske said.
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