The crypto markets are trying hard to recover following recent price corrections. Despite the massive volatility, there are all kinds of optimistic predictions about the price of digital assets these days. Check out the latest reports below.
Crypto analyst Justin Bennett says that market crashes don’t happen when everyone expects them to.
Bennett explained that the crypto bull market is still intact, but a correction could be months away.
“I don’t think the crypto bull market has ended. Markets don’t crash when everyone expects them to, and right now, everyone expects it. My base case is for one more melt-up this year, followed by a correction in either late 2022 or 2023.”
Bennett said that the Federal Reserve would not hike interest rates and reduce asset purchases aggressively.
On the other hand, it will instead “choose market stability over-controlling inflation,” especially if the “stock market corrects further.”
Volatility could increase
He also made sure to explain that volatility could consequently increase if the Federal Reserve is forced to remain “accommodative.”
“So that means we could be in for more volatility in the short term if the stock market is going to strong-arm the Fed into remaining accommodative for longer. But ultimately, I don’t think this crypto bull market is over just yet. It’ll be an interesting few months regardless.”
Bennett has also explained that Bitcoin could surge to the resistance level between $40,000 and $42,000 if it manages to stay above the $35,000 price.
But if BTC’s price drops below $35,000, it could collapse by nearly 20%, according to the crypto analyst.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $36,544.
The other day, we revealed that the former Goldman Sachs CEO says that despite crypto prices crashing and hundreds of billions of dollars evaporating, the benefits and pluses of crypto and blockchain technology are evident.