ShapeShift CEO Erik Voorhees thinks the bull market will come in the next three years.
Speaking on the Bankless podcast, Voorhees said that the start of a new bull market will not take 10 years.
Erik Voorhees Speaks About Bitcoin Rally
The ShapeShift CEO believes that Bitcoin could rise by about 140% next summer.
“It won’t last 10 years. If it takes 10 years for the bull market to start, everything will probably fail. For this reason, I am happy to limit the time in this way. I think we may have to wait for the next six months to three years. This is the time it takes for people’s minds to start changing and for the speculative cycles to return.”
Pointing to the need to improve macroeconomic conditions, Voorhes said that the Fed should put an end to its rigid stance.
“It also has a lot to do with the macro environment. In this period when interest rates are kept high and monetary conditions are tight, there will be a more adverse headwind. This will start to change from early to mid-2023. Therefore, I will not be surprised if Bitcoin rises to the level of $ 40,000 by the summer.
In addition, Erik Voorhees emphasized that one of the biggest lessons to be learned from 2022 is the importance of self-custody retention of digital assets:
“This lesson that people need to learn is the dangers of crypto wallets. This is not a new lesson. This is what we must continue to teach. I don’t expect people new to the cryptocurrency industry to start using self-custody wallets directly. However, everyone in this industry, even for a short time, needs to understand how to use these types of wallets.”
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