A closely watched crypto strategist says there is a possibility that digital assets will not see another bull market.
Pseudonymous analyst The Flow Horse, also known as Cantering Clark, tells his 181,600 followers on the social media platform X indicate that he is less confident in a crypto bullish reversal this time around.
“The last bear market people thought it was over. Tits time where everyone just comfortably leans on [the] “next bull market.”
I was very confident last time, [but] now less confidence in the market.
More confidence in some kind of limited survivor integration with TradFi (traditional finance).”
According to the trader, the crypto space is failed to fulfill its promise to develop critical real-world use cases, and that hurts cryptos’ chances of greater adoption.
“Constant future promises, lots of scams and no real application outside the stables [stablecoins] and the Swiss-Bank’esq of BTC (Bitcoin).
Not to mention the things that are actually transformative for the global financial system, and don’t require tokens to flourish.”
As The Flow Horse grows skeptical of an upcoming bull market, investor Chris Burniske says he is confident a crypto bull market is on the way.
Burniske, a partner at venture capital firm Placeholder and former head of crypto at ARK Invest, has predicted that crypto could see another step back before another bull market kicks in.
Burniske previously said:
“[The] Bears are likely to get another chance at a 20-40% drop in high-value crypto assets this year before the party really kicks off next year in 2025. The question is at what prices that fall will start…
The Fed will continue until something breaks.”
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Generated image: Midjourney