Despite Recent Plunge, Quality Crypto Assets Hit Higher Lows...Early Bull Run Ahead: Analyst
CryptoNewsTerminal Staff08 Aug, 2024
Despite Recent Plunge, Quality Crypto Assets Hit Higher Lows...Early Bull Run Ahead: Analyst
Chris Burniske, former head of crypto at Ark Invest and managing partner at blockchain-focused venture capital firm Placeholder, has analyzed the recent plunge in the crypto market and expressed optimism for a potential bull run in the future. "Through (the recent drop), most quality crypto assets have established higher lows than 2023," Burniske said via Twitter. "As global central banks likely begin to pivot to quantitative easing as early as next quarter, we are likely to see some choppiness, but the early stages of a bull run are forming." This analysis suggests that despite the recent market decline, the underlying fundamentals of quality crypto assets remain strong. Burniske's comments align with previous observations from industry experts who have noted that the crypto market has a history of recovering from downturns and entering bull runs. However, it's important to note that the crypto market is highly volatile, and any predictions about future price movements should be taken with caution. Investors should always conduct their research and invest responsibly.
