A trader known for correctly calling the 2022 cryptocurrency bottom reveals it โseems like a prime timeโ for the digital investment market to reverse.
Deal investor Chris Burniske tells his 260,100 Twitter followers that numerous factors are lining up in Bitcoinย (BTC) and cryptocurrenciesย favor.
โ Bitcoin at [200-week simple moving average], worst of Fed action is behind us, credit crunch is there but not a crisis, Unitedย States gov unlikely to default, equities rallying while cryptocurrency lags โ seems like a prime time for us to reverse โ what am I missing?โ
Burniske likewise says โa new product cycleโ in cryptocurrency seemsย to be in the early stages of kicking off.
โThe availability of mature infrastructure for products to use is leaps and bounds beyond the last time this happened w/ Decentralizedย Finance (decentralized finance) Summer in 2020.
If youโre not getting excited, youโre not paying close enough attention.โ
The deal investor says heโs particularly excited about decentralized financeโs next transition to what he calls the โInternet Financial Systemโ (IFS), aย mix of Decentralizedย Finance elements and โcompliant systems that invite the largest pools of worldwide financialย resources to utilize open networks.โ
Burniske likewise thinks the tokenization of real-world assets (RWAs) will likewise play a big role in the IFS.
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