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Crypto Winter To Continue For 3 Months & More, Bitcoin Price May Drop Below $20K

Written by: Elena R

May 22, 2022

Speaking on “Mornings with Maria“, Delta blockchain Fund founder Kavita Gupta says that “we are seeing one of the biggest dips in the crypto market in a long time” as the prices have “slashed down” from all-time highs. And she also believes “a crypto winter is here” as bitcoin traded below $30,000. 

Further Gupta has pointed out the falling price of bitcoin as “a crypto winter is here”. Whereas the price of bitcoin and ethereum are trading about half of their high price.

In addition to this Gupta warns that the crypto market is currently experiencing a “correction” from its “crazy speculative highs, and looks like it’s going to stay.”

Bitwise Asset Management CIO Matt Hougan argued that markets are experiencing significant volatility  in the short term.

And are experiencing the macro-driven risk repricing of all risk assets, including Bitcoin. He further warns about the crypto volatility sticking around for next few months .

In addition Varney & Co, also warns about the volatility of the crypto market sticking around for the next three to six months further.

Varney & Co also believes that the long-term outlook for bitcoin is very strong.

According to the recent report, the Bitcoin has plunged to $25,000 , the lowest since December 2020,Then Bounced back over $30,000, experiencing a lot of volatility.

Again proving its volatility, crypto traded just below $30,000, down from all-time high of over $68,000 reached in November 2021. 

Further, Gupta in an interview with Bloomberg Technology says, due to the impact of crypto winter the Bitcoin price may even fall down to $14,000, along with the price decline of Ethereum. 

She also gives a positive note on Bitcoin high saying that, “Bitcoin is still on course for another new high in just over a year despite the crypto winter.”

Believing that the market correction and more companies using bitcoin on their balance sheets will provide an opportunity for more bitcoin adoption. Which inturn results in bitcoin achieving the price of another new high. 

Gupta further speaking on collapse of TerraUSD, says this collapse will affect the next move of the stablecoin market, aiming to pegged to another crypto and stay aways from fiat to avoid Tearr’s fate.  

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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