Online Blockchain CEO Clem Chambers has predicted that Bitcoin will crash in the coming months if the Fed increases interest rates and the FTX issue goes unresolved.
In a December 10 interview with Kitco News’ David Lin, Chambers pointed out that if the Fed wants to stop inflation, it would have to keep raising the rates until something breaks. Chambers believes that something will result in a market crash in the crypto sector.
Inflation had reached a record high of 9.1% in June 2022 but has since dropped to 7.7% in October.
Chambers Predicts More Storm Ahead
Although there has been a significant decline in the value of cryptocurrencies and stocks this year, the CEO does not believe that we have seen the end of it.
“Everyone remembered the big drop in 2008, but there was a bear market in 2007, which was an oncoming storm,” he said. “I think what we’re in now is potentially an oncoming storm.”
Chambers further…
