{"id":1703,"date":"2022-08-22T04:34:26","date_gmt":"2022-08-22T04:34:26","guid":{"rendered":"https:\/\/prendergast.net\/?p=1703"},"modified":"2022-08-22T04:34:26","modified_gmt":"2022-08-22T04:34:26","slug":"bitcoin-price-has-hit-bottom-coldest-days-of-crypto-winter-are-over-ran-neuner-and-steven-sidley","status":"publish","type":"post","link":"https:\/\/prendergast.net\/?p=1703","title":{"rendered":"Bitcoin price has hit bottom -coldest days of Crypto Winter are over  Ran Neuner and Steven Sidley"},"content":{"rendered":"<div id='post-thumb'><img alt='' src='https:\/\/markethive.com\/uploads\/david-ogden\/images\/blog_333275.png' style='height:1px; width:1px' \/><\/div>\n<h1><span style=\"font-size:18pt\"><span style=\"font-family:&quot;Liberation Sans&quot;,sans-serif\"><strong>Bitcoin price has hit bottom &#8211;&nbsp;&nbsp;coldest days of Crypto Winter are over &ndash; Ran Neuner and Steven Sidley<\/strong><\/span><\/span><\/h1>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"330\" src=\"https:\/\/www.youtube.com\/embed\/1-wFHKzihjE\" title=\"'We've hit the crypto bottom'; will the Bitcoin price reach new highs? - Ran Neuner &amp; Steven Sidley\" width=\"730\"><\/iframe><\/p>\n<p>With Bitcoin&rsquo;s price bottoming below $20K in June, the worst days of the Crypto Winter are over, according to Ran Neuner and Steven Sidley, who joined Kitco&rsquo;s Editor-in-Chief and Lead Anchor, Michelle Makori, in a panel discussion.<\/p>\n<p>&ldquo;We&rsquo;ve hit the crypto bottom,&rdquo; said Neuner, Host of Crypto Banter, a popular crypto-themed podcast. &ldquo;Crypto suffered one of the biggest liquidations we&rsquo;ve ever seen. We had the LUNA ecosystem collapse, which is a $100 billion ecosystem, which caused a cascade of liquidations throughout the market.&rdquo;<\/p>\n<p>Sidley, Professor at the University of Johannesburg and Head of the university&rsquo;s Blockchain and CryptoVerse Research Group, agreed with Neuner, albeit with a few caveats.<\/p>\n<p>&ldquo;There are a couple of things still staring us in the face,&rdquo; cautioned Sidley, who is also a best-selling author and a Director at Bridge Capital Future Advisory. &ldquo;China deciding to invade Taiwan is a possible Black Swan event. If Russia decides to step up its aggression all the way to nuclear weapons, that&rsquo;s another Black Swan event&hellip; but in most respects, I agree with Ran that we&rsquo;re at the end of [The Crypto Winter.]&rdquo;<\/p>\n<p>A Black Swan event is an unexpected occurrence that has a significant impact on markets.<\/p>\n<p>Crypto Winter thawing<\/p>\n<p>Neuner, who is also the Co-founder and CEO of Onchain Capital, used the 200-week moving average of Bitcoin to support his claim that the cryptocurrency would continue its upward rally. The 200-week moving average is the longest measure of Bitcoin&rsquo;s upward trend. Bitcoin&rsquo;s spot price has only moved below this metric three times: in 2015, in 2020, and in 2022.<\/p>\n<p>&ldquo;Every time [Bitcoin&rsquo;s spot price hit the moving-average], it has rebounded and given investors huge returns,&rdquo; said Neuner. &ldquo;The times it has gone under the 200-week moving average have been Black Swan events.&rdquo;<\/p>\n<p>However, Neuner said that investors should watch the &ldquo;macro environment,&rdquo; which could impact Bitcoin&rsquo;s price.<\/p>\n<p>&ldquo;For as long as the macro environment continues to perform, I think we&rsquo;ll be okay,&rdquo; he said. &ldquo;The probabilities are about 50-50 as to whether the Fed will increase [rates] by 50 basis points or 75 basis points, and I think that the market has already priced those rate increases in. In terms of whether we&rsquo;re at the bottom or not, I&rsquo;m confident to say that we&rsquo;ve probably hit the bottom in crypto, unless another Black Swan event happens&hellip; but I think we&rsquo;ve had the coldest days of winter.&rdquo;<br \/>\n&nbsp;<\/p>\n<p>Bitcoin adoption<\/p>\n<p>Asset-management firm BlackRock recently announced a partnership with Coinbase to provide institutional clients with Bitcoin access. However, this seemed to have no significant impact on Bitcoin&rsquo;s price.<\/p>\n<p>&ldquo;In a bear market, the market does not respond to good news, and we know that we&rsquo;re very much that we&rsquo;re currently in a bear market,&rdquo; said Neuner. &ldquo;We thought that the BlackRock news would move the market, and it didn&rsquo;t at all.&rdquo;<\/p>\n<p>Sidley added, &ldquo;The BlackRock announcement was very profound. This [firm has] $10 trillion in assets that they manage.&rdquo;<\/p>\n<p>However, he said that Bitcoin&rsquo;s price did not move after the BlackRock announcement because of unfavorable regulatory developments.<\/p>\n<p>&ldquo;There&rsquo;s a regulatory pushback,&rdquo; said Sidley. &ldquo;Whereas BlackRock may say, &lsquo;we&rsquo;re going to give our clients exposure to [Bitcoin],&rsquo; everybody&rsquo;s now looking to the other side, which is the regulators who are trying to control it and slow this thing down.&rdquo;<\/p>\n<p>To find out Neuner and Sidley&rsquo;s forecasts for Bitcoin&rsquo;s price, watch the video above.<\/p>\n<p>By Cornelius Christian<\/p>\n<p>For Kitco News<\/p>\n<p><a href=\"https:\/\/kms.kinesis.money\/signup?referrer=KM13461268\" style=\"color:#000080; text-decoration:underline\"><span style=\"color:#3b5998\"><span style=\"font-family:Tahoma\"><span style=\"font-size:x-large\"><u><strong><span style=\"background-color:#ffffff\"><strong>Time to buy Gold and Silver on the dips<\/strong><\/span><\/strong><\/u><\/span><\/span><\/span><\/a><\/p>\n<p>\n&nbsp;<\/p>\n<p><\/p>\n<p>Tim Moseley<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has hit bottom &#8211;&nbsp;&nbsp;coldest days of Crypto Winter are over &ndash; Ran Neuner and Steven Sidley With Bitcoin&rsquo;s price bottoming below $20K in June, the worst days of the Crypto Winter are over, according to Ran Neuner and Steven Sidley, who joined Kitco&rsquo;s Editor-in-Chief and Lead Anchor, Michelle Makori, in a panel discussion. &hellip; <a href=\"https:\/\/prendergast.net\/?p=1703\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Bitcoin price has hit bottom -coldest days of Crypto Winter are over  Ran Neuner and Steven Sidley<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[67,673,291],"_links":{"self":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1703"}],"collection":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1703"}],"version-history":[{"count":0,"href":"https:\/\/prendergast.net\/index.php?rest_route=\/wp\/v2\/posts\/1703\/revisions"}],"wp:attachment":[{"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prendergast.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}