Analysts Warn Of Bitcoin Crash By June 2022

0

Last Updated on 13 April 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
View all posts

Although the ‘Miami Bitcoin week’ or ‘Crypto Coachella’ (as some in the mainstream media are now calling it) has just finished, the world’s biggest crypto coin can’t seem to benefit from all that publicity. Failing to grow beyond $45k it has been reversing back to it’s mean of around $40k time and time again.

Some analysts are now turning bearish and are warning of an impending crypto crash by the summer.

Advertentie.

Big tech and the Easter bunny

In a refreshingly bearish note, BitMEX co-founder Arthur Hayes admitted that his mood had changed. He stated:

This is crypto, and magic internet money corrupts the brain so let me … attempt to sober you up.

Justified or not, the market lumps crypto and big tech in the same cesspool. If you believe in unicorns, the Loch Ness Monster, and the Easter Bunny, then it is possible that you believe big tech will not suffer due to rising nominal interest rates, worsening global fiat liquidity conditions, and falling economic growth.

With that, Hayes points to the worsening position of the Nasdaq and many tech stocks, and how the correlation between tech and crypto has grown this year.

Speaking to the New York Post, Hayes summarized that he in essence expects crypto to crash in June 2022.

On top of that, many Wall Street market makers are pointing to the Fed’s impending interest rates tightening, which should normally also mean dropping stock markets.

Bitcoin is struggling for direction as Wall Street grows cautious over how aggressive the Fed will be with tightening of monetary policy.

Edward Moya, a currency expert at broker Oanda explained earlier this week.

At the time of writing, Bitcoin changed hands for $40k.

FedBul / Depositphotos.com