Experts predict a fall in bitcoin, followed by a breakthrough to the next price high

The exchange rate of the main crypto coin is likely to continue to fall, however, in the next two years, the asset will show another price record. Meltem Demirors, head of strategy at CoinShares, shares this opinion.

She pointed out that BTC has always been a “cyclical asset” with price movement from peak to low at the level of 80–90%. With the latest bitcoin quotes about 65% down from their November 2021 highs, “there is still room for some correction.”

Demirors does not expect the price of the first cryptocurrency to fall below $14,000, indicating a serious support level at $20,000. However, she is confident that a reversal of the rate will occur after some time, as “no growth catalysts” are yet to be seen.

Amid the ongoing bear market, she predicts that a significant number of digital assets will essentially cease to exist.

“There is a long trail of crypto assets that I think will drop to zero as they have no long-term prospects. We saw a similar process in the shares of technology companies,” said Demirors.

In addition, CoinShares analysts recorded capital inflows into Ethereum funds, which is the third week in a row. Last week, the amount of funds invested in ETH funds reached $7.6 million.

Experts point to a moderate turnaround in investor sentiment after nearly three months of ethereum outflows of around $460 million this year. The current improvement in sentiment may be due to the increasing likelihood of Ethereum’s transition from PoW to PoS, which is expected before the end of 2022.

DeFi researcher Vivek Raman believes that ethereum has every chance to overtake bitcoin in value. In his opinion, the transition to a “green” blockchain will allow ETH to create a more perfect economic base for the smart contract platform, cope with crypto coin inflation and increase the security of operations.