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Attention! The Expert Who Knows the Collapses Warned: Bitcoin Will Crash to These Levels!

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While Bitcoin (BTC) is going through a turbulent period, a leading manager claimed that the worst scenario has not yet happened, pointing to historical data.

Clem Chambers: What Happened in 2007 and 2008?


Clem Chambers, CEO of Online Blockchain, said that while the Federal Reserve continues to raise interest rates, investors should be cautious. According to the manager, if the Fed really wants to reduce inflation, it is impossible to pull interest rates to low levels overnight. Drawing attention to the risk of recession, the manager claimed that the Fed’s monetary policy will continue to create chaos in the crypto currency and stock markets. Chambers stressed that stocks and cryptocurrencies, which experienced significant declines in 2022, were in the midst of an “impending storm” before a major collapse. “Everyone remembers the great crisis of 2008, but before this great chaos, there was an approaching storm in 2007, that is, a long bear market,” Chambers said in a statement on this situation. I think what we’re in right now is a potentially impending storm.” he used his statements.

Some analysts have claimed that the current bear market in stocks and cryptocurrencies could last longer. Chambers said he had been saving cash despite “high inflation.” According to the expert, the dollar will continue to appreciate in value. In such an environment, the dollar is a safer haven than stocks and cryptocurrencies. The strategist believes that the markets have not yet bottomed out. Inflation peaked in June at 9.1 percent in 2022 before falling to 7.7 percent in October. Chambers said the inflation is mainly caused by the Fed printing excess money. According to the expert, inflation is driven by the money supply. If you keep printing more money because you have a giant-sized fiscal deficit, you feed that deficit. If you’re printing an extra $1 trillion every year to cover your government deficit, inflation gets out of control.

Bitcoin Will Fall to This Level!


Chambers had predicted that Bitcoin would fall to $17,000 in September. The expert later noted that BTC could fall to $ 10,000. Now that BTC is trading slightly below this price, the manager believes that the recovery of the market can take up to 18 months, and not until 2024, when the Bitcoin halving occurs. According to Chambers, it can take months to repair the damage caused after FTX. . There won’t be a big rally until halving until there is any buying pressure.

The CEO also stated that Bitcoin should pass the 20.000 dollar level in this process. The FTX crisis is not over yet. The Genesis incident has not been solved, and therefore the cycle of crises is still unresolved. The Grayscale crisis remains unresolved. All this poses risks for Bitcoin and the market in general.

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