Coin Bureau predicts new lows for the crypto market this year Here are the 2023 predictions

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The host of popular YouTube channel Coin Bureau says he expects the crypto downturn to last well into 2023.

In a new discussion on YouTube channel Digital Asset News, crypto analyst Guy Turner says he watches traditional markets because of their correlation to crypto.

There is a lot to watch with what we see from the Fed and the decisions it makes. This shift to QE [quantitative easing], if this happens, could be an indication that something has already gone wrong. I keep an eye on things like the housing market and the stock market as well, because we obviously have this correlation between stocks and crypto.

Amid the pessimistic outlook for equity and housing markets, Turner says he expects crypto assets to suffer further losses.

We haven’t seen the stock market go down yet, which I think is what a lot of people seem to be expecting, so I’m kind of bracing for that and maybe a housing crisis as well. I’m looking at some kind of further downside as a result of this and possibly some other kind of crypto-specific factors.

As Bitcoin (BTC) surges above $20,000 from $16,581 on Jan. 1, Turner says crypto assets are unlikely to support the rally.

“I think in terms of what people can kind of expect or what people should be prepared for, like I said earlier, this idea of ​​everything moving sideways with these occasional push-ups going on. turn off fairly quickly.

Guys says there may be good news for some crypto projects, but it may take time for the market to recover.

We will hopefully get some indications that the macroeconomic situation is improving, and it will be this kind of feeling of excitement like, “Maybe we’ve turned the corner”, and maybe we’ve got it. done, but I still think it takes a while to play the markets.

He says investors are still cautious about investing their money in crypto.

“It will take some time for investors to be somewhat tempted to come back to the table, especially for risky assets like crypto, so I think patience will be a key virtue to have for at least the next 12 years. month. Nothing will happen as we would like. Nothing will go that fast. It’s going to be kind of a slow grind most of the time.

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