{"id":64209,"date":"2022-07-11T10:19:03","date_gmt":"2022-07-11T07:19:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64209"},"modified":"2025-09-06T13:08:13","modified_gmt":"2025-09-06T10:08:13","slug":"expert-urges-waiting-for-a-deleveraging-wave-before-bitcoin-recovery","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/expert-urges-waiting-for-a-deleveraging-wave-before-bitcoin-recovery\/","title":{"rendered":"Expert urges waiting for a deleveraging wave before Bitcoin recovery"},"content":{"rendered":"<p>Bitcoin needs to shed excess leverage to regain stability. This was stated by Ruchir Sharma, CEO of Rockefeller International, in an interview with <a href=\"https:\/\/www.coindesk.com\/layer2\/2022\/07\/08\/bitcoin-will-make-a-comeback-rockefeller-international-chairman-says\/\">CoinDesk<\/a>.<\/p>\n<p>The former Morgan Stanley executive and New York Times columnist compared the first cryptocurrency to Amazon. In the early 2000s, after the dot-com crash, the e-commerce giant&#8217;s shares fell by about 90%, but over the next 20 years their value rose more than 300-fold.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cDigital gold is basically a good idea that has been spoiled by too much cheap money and speculative interest,\u201d Sharma said.<\/em><\/p>\n<\/blockquote>\n<p>According to the expert, Bitcoin remains caught in a \u201cspeculative mania\u201d. Over the next six months, on the backdrop of a weaker stock market, the negative re-pricing could continue, but thereafter it should return to its highs.<\/p>\n<p>The expert noted that, on average, bear markets on Wall Street last about a year, during which the drawdown reaches about 35%. To date, that time frame has not been met; the pullback from <span data-descr=\"historical maximum\" class=\"old_tooltip\">ATH<\/span> stands at 20%.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cI\u2019m not yet ready to claim that we have bottomed for Bitcoin and cryptocurrencies. The negative momentum in the United States, and risk appetite globally, remains in play,\u201d<\/em> he explained.<\/p>\n<\/blockquote>\n<p>Sharma allowed for the scenario where Bitcoin could replace the US dollar as the world\u2019s reserve currency within three to five years if its volatility subsides.<\/p>\n<p>Earlier, a Bloomberg strategist <a href=\"https:\/\/forklog.news\/strateg-bloomberg-sprognoziroval-rost-bitkoina-v-sleduyushhie-shest-mesyatsev\/\">forecasted<\/a> Bitcoin to hit bottom and recover in the next six months.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our Telegram \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin needs to shed excess leverage to regain stability. Ruchir Sharma, CEO of Rockefeller International, said this in an interview with CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":64210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138],"class_list":["post-64209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64209","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=64209"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64209\/revisions"}],"predecessor-version":[{"id":64211,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64209\/revisions\/64211"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64210"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}