Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Analyst Issues Crypto Warning, Says He’ll Load Up on Bitcoin (BTC) and Ethereum When This Happens

by Daily Hodl Staff
April 24, 2020
in Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Crypto analyst Cole Garner says the global economy is likely nowhere near hitting a bottom, and Bitcoin (BTC), Ethereum (ETH) and the wider crypto markets will be hit hard.

In a massive tweetstorm, Garner cites billionaire hedge fund manager Ray Dalio to paint a picture on where the global economy is headed. In a recent Ted Connects talk, Dalio predicted the world is hurdling toward a depression, similar to that of the 1930s that will entail years of recovery and require restructuring of financial systems. Says Dalio,

“Just so we are clear: A recession usually leads to a 30% to 40% fall in equities, a big recession usually has a 40% to 60% fall and a depression is 60% to 80%. We haven’t even priced in a recession yet. There is a long way to go.”

Garner says he surveyed 12 of the analysts he respects most for their take on where the S&P 500 is heading. Those results show the bottom is far from in.

“There was wide variance — but the aggregate expectation was about 50% off all-time-highs.”

Source: Cole Garner/Twitter

Garner expects BTC and all crytpocurrencies to remain highly correlated to traditional markets in the short term, and warns Bitcoin may plunge as low as $4,800.

He believes the big dip will present a prime opportunity to load up on BTC, citing recent data that indicates there are now more Bitcoin whales since December of 2017 and more stablecoins are being issued.

“If and when we leg down, risk-on assets like BTC probably sell off. Bitmex liquidation engine won’t make the same mistake twice. But Bitcoin could fill low orders. It’s bullish *big picture* — but a sweep of the lows could come first. If we leg down, I’m a buyer from $5,600 on down to $4.800…

I may load up on ETH too, as it nears transition to proof-of-stake. Yield-seeking ETH whales will lock up a lot of supply moving forward. Though not a fixed-supply asset, ETH may outperform BTC in the next bull market.”



Check Latest News Headlines


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

Submit a Press Release

Crypto Livewire – Press Releases

  • QuiverX to Integrate Chainlink Proof of Reserve To Power Transparent, Decentralized Crowdfunding
    January 15, 2021
  • The Online Family Office and High Net Worth Blockchain Conference
    December 22, 2020
  • How Blockchain Empowers Wuhan’s Digital Economy Growth – World Blockchain Conference
    December 14, 2020
  • SnapEx Adds LINK, BNB and TRX Alongside Sign-Up Bonus on a Sleek New App
    December 11, 2020
  • What’s the Role of Bots in Crypto Trading?
    December 3, 2020
Submit a Guest Post
Bitcoin
$34,789.00
$34,789.00
6.69%
Ethereum
$1,192.09
$1,192.09
0.02%
XRP
$0.274083
$0.274083
3.69%
Litecoin
$140.09
$140.09
3.7%
Bitcoin Cash
$471.50
$471.50
4.73%

Spotlight

  • Bitcoin Treasure Hunt Underway, Crypto Sleuths Search for 13 Chunks of BTC Hidden in Digital Art
    January 10, 2021
  • Bitcoin and Crypto Are Here To Stay but Won’t Replace Gold, Says Veteran Investor Todd Horwitz
    January 14, 2021
  • Researchers Say Hack-Proof Quantum Communications Network Ready for Launch
    January 11, 2021
  • Jack Dorsey Calls Bitcoin ‘Foundational Internet Technology’ While Explaining Twitter’s Trump Ban
    January 15, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2020 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.