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In 2022, bitcoin is down more than 60% from its all-time high of $69,000. The market is in a strong bearish trend, and the recent collapse of the FTX ecosystem has only exacerbated an already difficult situation. Against this background, many analysts are trying to predict how the flagship of the crypto market may behave in the near future.
The head of the Online Blockchain company, Clem Chambers, gave an interview to Stansberry Research, where he shared his opinion on the current situation in the crypto industry. According to the expert, the worst is yet to come, since many users have not yet realized that a centralized digital currency exchange is a road to nowhere. This is contrary to the general concept of the crypto segment, which initially made a big bet on decentralization. Chambers emphasized that modern platforms like CEX are not exchanges at all, but digital banks where investors invest their funds.
The specialist believes that last year Bitcoin took off like a rocket, and now it is falling like a stone. If crypto-exchanges start to go bankrupt en masse, then Bitcoin may even fall to $8,000. It is noteworthy that on September 12, Clem Chambers pointed out: if bitcoin reaches $17,000, then we can expect quotes to drop to $10,000.
The expert also stressed that a full recovery of the market may take at least a year and a half.
At the end of the interview, the expert emphasized that he believes in decentralized technology. At the same time, the wholesale centralization of the crypto community can play a cruel joke on the entire industry of digital assets. Over the past day, the flagship of the crypto market has lost about 1%, and its quotes are located near the $16,800 mark.
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