Crypto Market Reaches $1T: Analyst Predicts 4X Surge in Bitcoin, Ethereum
1. The global crypto market cap recently hit $1 trillion, however currently it has dropped to $981 billion.
2. Chris Burniske, a former associate at ARK Invest and crypto analyst, predicts that the crypto market will mirror 2019, when Bitcoin and Ethereum both surged by 4X.
3. He urges investors to buy the dip even if the market makes a bearish move.
The recent surge in the world’s two largest cryptocurrencies, Bitcoin and Ethereum, has pushed the global crypto market cap to unprecedented heights. For the first time since November 2022, the market cap reached the $1 trillion mark. Although, currently the global crypto market cap has dropped to $981 billion, it is still an impressive figure.
The crypto market is being closely monitored by many crypto analysts, one of which is Chris Burniske, a former associate at ARK Invest. Burniske is predicting that the crypto market will repeat what happened in 2019, when Bitcoin and Ethereum surged by 4X. He believes that the current market situation is not just a short-term rally, meaning that it could potentially reach the same heights as 2019.
Burniske is urging investors to buy the dip even if the market makes a bearish move. He claims that it is “painful to be on the sidelines for a move like that” and that investors should enjoy the ride and buy more if the market retraces later. The crypto analyst is convinced that the crypto market will once again mirror 2019 and that investors should take advantage of this opportunity.
Overall, the crypto market is showing signs of a potential repeat of the 2019 market movements. Chris Burniske, a former associate at ARK Invest, believes that the market will once again reach the same heights as it did in 2019 and he is encouraging investors to buy the dip. It remains to be seen what the future holds for the crypto market, but it is certainly an exciting time for investors and traders.