• Crypto market cap is down by 2.19% in the past week.
• Analysts see this as a routine correction rather than a cause for concern.
• Peter Schiff and Jim Cramer have a pessimistic outlook for cryptocurrencies.
Crypto Market Goes Bearish: Top Analyst Calls it a Bullish Opportunity – Find Out Why!
The global crypto market cap has declined by 2.19% over the past week, leading to some analysts making bearish predictions while others remain bullish on the industry’s future prospects.
Analysts See This as Routine Correction
Ran Neuner, founder of Crypto Banter and CNBC crypto trader, tweeted that the US stock market is particularly robust right now despite the recent drops in cryptocurrency prices. He believes that this is an opportunity to buy with confidence as it may be a sign of strength rather than weakness in the industry overall. This sentiment is echoed by other analysts who consider this a routine price correction rather than something more serious or worrying about the long-term health of cryptocurrency markets.
Pessimistic Outlooks from Peter Schiff & Jim Cramer
Not everyone shares Ran Neuner’s view though, with some notable figures such as Peter Schiff and Jim Cramer being especially pessimistic about cryptocurrencies in general. According to Schiff’s forecast, Bitcoin could soon dip below its $18,000 milestone once again due to recent drops in prices across all major coins such as Ethereum (ETH), Cardano (ADA), Tether (USDT), Binance Coin (BNB) and XRP token. Meanwhile, Jim Cramer advised investors to “give up their magic internet money” yet again due to his own doubts about its long-term potential success or viability in the current financial landscape.
Performance of Major Cryptocurrencies
At present, Bitcoin (BTC) is priced at $24,197; Ethereum (ETH) at $1,644; Cardano (ADA) at $0.38626900; Tether (USDT) at $1.00; Binance Coin (BNB) at $308.07; and XRP token at $0.42128300 respectively – showing that even if there are bearish predictions out there from certain individuals or groups within crypto circles, overall performance remains relatively stable for now despite short-term price fluctuations here or there depending on external factors like inflation rates etc..
Overall then it looks like this latest decline should not be seen as anything too concerning from an investor perspective but instead should be seen simply as part of the normal cyclical nature of markets which experience both ups and downs before eventually finding equilibrium once more over time given enough data points collected along the way