{"id":11134,"date":"2024-02-28T17:35:30","date_gmt":"2024-02-28T15:35:30","guid":{"rendered":"https:\/\/forklog.com\/en\/matrixport-co-founder-predicts-15-crypto-market-correction\/"},"modified":"2024-02-28T17:35:30","modified_gmt":"2024-02-28T15:35:30","slug":"matrixport-co-founder-predicts-15-crypto-market-correction","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/matrixport-co-founder-predicts-15-crypto-market-correction\/","title":{"rendered":"Matrixport Co-Founder Predicts 15% Crypto Market Correction"},"content":{"rendered":"<p>The cryptocurrency market is currently in a state of &#8220;euphoria,&#8221; prompting participants to exercise caution, according to Matrixport co-founder Daniel Yan.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Euphoria: the sentiment of the market has come to a level where I think we should be cautious \u2014 may be a good idea to revisit my pinned tweet on the size of potential corrections. I think we should see another healthy ~15% correction by end-April.<\/p>\n<p>\u2014 Daniel Yan (@_D_Y_A_N) <a href=\"https:\/\/twitter.com\/_D_Y_A_N\/status\/1762822660155740219?ref_src=twsrc%5Etfw\">February 28, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;I think we should see another healthy ~15% correction by end-April,&#8221; he warned.\u00a0<\/p>\n<\/blockquote>\n<p>Yan noted that March will be a challenging period from a macroeconomic perspective. The month is set to include a <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Federal Reserve<\/span> meeting on the base rate and the release of a report on the US bank emergency funding program.\u00a0<\/p>\n<p>Additionally, on <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-developers-set-date-for-dencun-upgrade-on-mainnet\">March 13<\/a>, the Ethereum mainnet will undergo the <a href=\"https:\/\/u1f987.com\/en\/news\/how-eip-4844-will-affect-ordinary-ethereum-users\">Dencun upgrade<\/a>, aimed at enhancing scalability and reducing fees.\u00a0<\/p>\n<p>The Matrixport co-founder believes that the market will be particularly vulnerable in the period following this significant upgrade and preceding the Bitcoin halving.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Where will the drop start from? $65,000, or $60,000, or now? I really don&#8217;t know. I don&#8217;t even know what will come first: a new all-time high or a correction,&#8221; Yan added.\u00a0<\/p>\n<\/blockquote>\n<p>In his view, long-term investors &#8220;don&#8217;t need to worry too much,&#8221; while traders should be more vigilant in March.\u00a0<\/p>\n<p>At the time of writing, Bitcoin is trading at $60,500, having gained about 6% over the past day. According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>, the asset&#8217;s market capitalization has reached $1.18 trillion with a trading volume of $51 billion.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/zXAW5WzFlHMETICUVG7LFLVzYm4I6FRqDKj2_UnO7FFAXeDdbHHCWz-uAv7w1tnWpMPG5DsrkvzPpJumjsvxP_jaSXBmp6qG2qCFCTe0QFZ93OIOXTG9pgqvc3y4TxE7VqVxq2u3X9oDMQ3k9LvbTcI\" alt=\"Matrixport Co-Founder Predicts 15% Crypto Market Correction\"\/><figcaption class=\"wp-element-caption\">15-minute BTC\/USDT chart on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\">TradingView<\/a>.\u00a0<\/figcaption><\/figure>\n<p>Amid the recent rally, Glassnode analysts have noted that the dynamics of capital flows, exchange activity, leverage in crypto derivatives, and institutional demand indicate a surge in risk appetite among Bitcoin investors.<\/p>\n<p>Earlier, Matrixport analysts suggested that the first cryptocurrency could rise to $63,000 in March, citing the halving as one of the catalysts.\u00a0<\/p>\n<p>Previously, Fundstrat co-founder Tom Lee predicted digital gold could reach $150,000 by the end of 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market is currently in a state of &#8220;euphoria,&#8221; prompting participants to exercise caution, according to Matrixport co-founder Daniel Yan.\u00a0 Euphoria: the sentiment of the market has come to a level where I think we should be cautious \u2014 may be a good idea to revisit my pinned tweet on the size of potential [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,989,1138],"class_list":["post-11134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-matrixport","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11134"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11133"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}