Investing.com - Coinshares Chief Strategy Officer Meltem Demirors says Bitcoin will hit another all-time high in the next 24 months.
In an earlier interview, Meltem Demirors said that bitcoin is a "cyclical asset" and that historically, bitcoin has typically fallen between 80% and 90% from its all-time highs to the bottom.
Therefore, Demirors said, "Bitcoin has room to fall further," as it has fallen about 65% from its all-time high set in November of last year.
Demirors noted that bitcoin will have a strong support level at $20,000. She does not expect bitcoin to fall below $14,000 and says we could see bitcoin continue to hit new all-time highs within the next 24 months.
Demirors said she doesn't see a "catalyst" for the cryptocurrency to rise in the near future, and that it will take some time for the trend to reverse. She added that "during a bear market, there will be a lot of cryptocurrencies being wiped out.
Demirors added that in the long run, most cryptocurrencies will go to zero, and only the strongest ones will survive.
In addition, Louis Schoeman, Managing Director of Forex Suggest, also said in a recent report that the current crypto bear market will kill up to 90% of cryptocurrencies.
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