2024

Bitcoin ETF

Gary

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/market-analyst-gary-shilling-predicts-economic-turmoil-and-crypto-decline/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Market Analyst Gary Shilling Predicts Economic Turmoil and Crypto Decline</a><br></p>
<p style="text-align: justify">While the rise in <a href="https://en.coin-turk.com/crypto-markets-bull-run-peter-schiffs-skepticism-vs-positive-btc-etf-news/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> price continues steadily, there are those who think the general market sentiment is misleading. Some analysts like Capo still expect a downturn, but today a different name is making headlines. Let’s see why Gary is being talked about as Bitcoin price is above $45,169. Here are the details.</p>
<h2 style="text-align: justify" id="will-cryptocurrencies-fall">Will Cryptocurrencies Fall?</h2>
<p style="text-align: justify">Market expert Gary Shilling made statements that could upset cryptocurrency investors. Everyone is expecting the approval of a spot Bitcoin ETF soon and for the markets to move upwards more quickly. However, Gary thinks the opposite and expects the treasury volatility in crypto, stocks, and other assets to end in disaster. The former Merrill Lynch economist says painful things are coming.</p>
<p style="text-align: justify"><img loading="lazy" decoding="async" loading="lazy" class="wp-image-297302 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/2024-Kripto-Beklentileri.png" alt="" width="871" height="591"></p>
<p style="text-align: justify">Shilling reports the biggest fluctuation in the bond market since the dotcom and 2008 financial crises. He expressed that the market is at its peak with individual investors’ enthusiasm, and the harbinger of a great destruction has arrived with these words.</p>
<blockquote>
 <p style="text-align: justify">“It is certain that the recent excessive financial speculation will also end with significant price drops and large losses for speculators. Signs that the end is near are increasing.”</p>
</blockquote>
<p style="text-align: justify">He argued that the recent rises in the commercial real estate securities market look dubious due to the credit crunch in the office space market. According to him, the breakdown here will drag down the rest of the market, and the fight against inflation will intensify on the employment front, resulting in significant job losses.</p>
<p style="text-align: justify">The analyst also mentioned that areas like <a href="https://newslinker.co/category/ai/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">artificial intelligence</a> currently seem like “temporary fads” and if they survive the destruction, they might then see the expected growth figures.</p>
<h2 style="text-align: justify" id="market-expectations-for-2024">Market Expectations for 2024</h2>
<p style="text-align: justify">Gary Shilling highlighted that Nvidia, Tesla, and five other tech companies remind him of the trio Kodak, Polaroid, and Xerox, which peaked in the 1930s but suffered significant losses during the stagnation of the 1970s.</p>
<p style="text-align: justify">Shilling is advising investors this year to divest from stocks and to take short positions against cryptocurrencies. The only problem is that before the 2022 crash, this name made similar doom-and-gloom predictions like the staunch crypto opponents. So, he could be wrong again.</p>
<p style="text-align: justify">ServiceNow CFO Gina Mastantuono and Academy Sports+ CEO Carl Ford said that ongoing uncertainty and economic pressure will inevitably trigger a recession. Stocks do not perform well during a recession period, and cryptocurrencies have been sharing a high correlation with SPX for a long time, which means this situation will also yield negative results for crypto. Of course, we must remember that at the beginning of 2022, major companies expected a recession and therefore significantly reduced their staff.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/market-analyst-gary-shilling-predicts-economic-turmoil-and-crypto-decline/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Market Analyst Gary Shilling Predicts Economic Turmoil and Crypto Decline</a></h5>

Market Analyst Gary Shilling Predicts Economic Turmoil and Crypto Decline

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