{"id":5618,"date":"2022-07-13T09:03:47","date_gmt":"2022-07-13T09:03:47","guid":{"rendered":"http:\/\/www.cryptoheretostay.com\/?p=5618"},"modified":"2022-07-13T09:03:47","modified_gmt":"2022-07-13T09:03:47","slug":"bitcoin-to-make-new-all-time-highs-within-24-months-coinshares-cso","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=5618","title":{"rendered":"Bitcoin to make new all-time-highs within 24 months: Coinshares CSO"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) may have further to fall, but CoinShares chief strategy officer Meltem Demirors believes the top cryptocurrency will reach new all-time highs within the next 24 months.<\/p>\n<p>Speaking on CNBC\u2019s Squawk Box on Monday, Demirors noted that Bitcoin has always been a \u201ccyclical asset\u201d with drawdowns from peak to trough at 80 to 90% historically. <\/p>\n<p>With Bitcoin currently sitting at about 65% down from its all-time highs in November 2021, Demirors believes \u201cthere is still room for some downward correction.\u201d<\/p>\n<p>However, Demirors noted there has been strong support around $20,000 and that she did not expect Bitcoin to fall below $14,000. She predicted the pain would be a distant memory by 2024, saying:<\/p>\n<p>\u201cIn the next 24 months, we will see new all-time highs in Bitcoin.\u201d<\/p>\n<p>Bitcoin is currently priced at $19,401, down 2% in 24 hours and down 72% from its all-time high. <\/p>\n<p>A reversal may be some time off, however, given Demirors can see \u201cno near upside catalysts\u201d \u2014 which could signal more pain in store for weaker crypto projects. <\/p>\n<p>\u201cWe obviously had a lot of liquidations, a lot of insolvencies that had a massive impact on the market. [&#8230;] We\u2019re talking about $10, $20, $30 billion of capital that has basically evaporated overnight:\u201d<\/p>\n<p>\u201c[We] certainly expect more pain ahead for tech stocks, growth, and also crypto.\u201d<\/p>\n<p>Demiror said she expected a large number of crypto assets to be wiped out during the bear market, similar to what has been seen in tech stocks. <\/p>\n<p>\u201cThere\u2019s a very long, long tail of crypto assets that I think will go to zero, that doesn\u2019t really have any long-term prospect as we\u2019ve seen with so many tech stocks as well.\u201d<\/p>\n<p>Louis Schoeman, managing director at broker comparison site Forex Suggest, has a similar view. In a recent 9News report, he\u00a0predicted that the current crypto downturn could kill off as much as 90 percent of all crypto projects.<\/p>\n<p>\u201cThis is a cleansing process,\u201d Schoeman said, adding that only the strongest crypto projects will survive this bear market. <\/p>\n<p>\u201cBut it also serves as a massive opportunity for many no-coiners to enter the crypto market for the first time. Fortune favors the brave in crypto right now.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Despite &#8216;worst bear market ever,&#8217; Bitcoin has become more resilient, Glassnode analyst says<\/em><\/strong><\/p>\n<p>Last month, billionaire entrepreneur Mark Cuban said he doesn\u2019t expect the crypto bear market to be over until there\u2019s a better focus on applications with business-focused utility. <\/p>\n<p>Cuban also believes mergers between different protocols and blockchains will eventually see the crypto industry consolidate, as \u201cthat\u2019s what happens in every industry.\u201d<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-to-make-new-all-time-highs-within-24-months-coinshares-cso\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) may have further to fall, but CoinShares chief strategy officer Meltem Demirors believes the top cryptocurrency will reach new all-time highs within the next 24 months. Speaking on CNBC\u2019s Squawk Box on Monday, Demirors noted that Bitcoin has always been a \u201ccyclical asset\u201d with drawdowns from peak to trough at 80 to 90% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-5618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5618"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5618\/revisions"}],"predecessor-version":[{"id":5620,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/5618\/revisions\/5620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/5619"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}