Crypto winter is here and might last over a year, says blockchain fund founder – Finbold – Finance in Bold

Join us on Twitter or Telegram
Delta Blockchain Fund founder Kavita Gupta has stated that the current crypto market correction has ushered in the ‘winter season’ that might last over a year. 
Speaking during an interview with Bloomberg Technology, Gupta stated that the crypto winter is similar to previous price movements, mainly after Bitcoin attained a new all-time high.
With Bitcoin attempting to stabilize around the $30,000 level, Gupta believes that the asset might plunge to about $14,000, highlighting the impact of the winter season. She noted that the same price movement would impact Ethereum
“I think it’s just the beginning of crypto winter. <…> We are going to stay here for at least a year and a half. I don’t believe that Bitcoin is going back to $45,000, $50,000 or $60,000 for another year and a half. <…> I’am very surprised that people are expecting that Bitcoin is going to continue to hover around $30,000. I do expect it to go down to somewhere between $14,000,” said Gupta. 
Despite the crypto winter, Gupta noted that Bitcoin would still hit another record high in over a year. She believes that the market correction will present a chance for more Bitcoin adoption, an element that will inspire the new all-time high. 
Additionally, Gupta suggested that as more companies continue to incorporate Bitcoin in their balance sheet, the more chances of another high. 
Commenting on the TerraUSD crash, the executive opined that the market was shaken, but it will influence the next course for stablecoins. She believes that to avoid the fate of Terra, most stablecoins will aim to have a peg of another cryptocurrency moving away from fiat currency. 
The Terra coin crush has partly contributed to the volatility of the crypto market, with several market experts projecting a further correction for Bitcoin. As reported by Finbold, economist HS Dent Publishing, Harry Dent, warned that Bitcoin could go down as low as $3,000 before spiking to $500,000 in a future market boom.
With the ongoing volatility, Bitcoin is still struggling to sustain its price above $30,000. By press time, the asset was trading at $29,400. 
Watch the full conversation below: 
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Join us on Twitter or Telegram
Or follow us on Flipboard Flipboard
Like the article? Vote up or share on your social media
Weekly Finance Digest
Check your inbox or spam folder to confirm your subscription.

By subscribing you agree with Finbold T&C’s
Justin crafts insightful data-driven stories on finance, banking, and digital assets. His reports were cited by many influential outlets globally like Forbes, Financial Times, CNBC, Bloomberg, Business Insider, Nasdaq.com, Investing.com, Reuters, among others.
Copyright © 2019-2022
Finbold.com
Weekly Finance Digest
Check your inbox or spam folder to confirm your subscription.

By subscribing you agree with Finbold T&C’s
DISCLAIMER WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site. US
Or copy link

source