B.itcoin started its bearish move after reaching an all-time high of $69,000 in mid-November 2021. The flagship coin even fell to the $17,500 level in June this year. However, it has managed to keep its price levels between $22,000 and $23,000.

However, Florian Grummes, managing director of Midas Touch, an investment consulting firm, is of the opinion that although Bitcoin has gradually started its recovery phase, it will have to wait another year to see its next bull run.

While chatting with Kitco News yesterday, July 23, Grummes claims that the world’s leading cryptocurrency will see its next bull run in the next six to 12 months, before its next scheduled halving in 2024.

Bitcoin price at $35,000?

On the other hand, the expert analyzing the current sentiment of the crypto market claims that Bitcoin might have entered the relief rally and could hit $35,000. But he also says that the crypto winter is not over yet.

Meanwhile, it is a known fact that ongoing inflation has forced the US Federal Reserve to raise interest rates, which in turn affects the global economy. This has resulted in the stock market crashing along with the Crypto market. Speaking about the above scenario, Grummes warns investors that although crypto is on its way to recovery along with stocks, it is important to make a cautious move due to the current volatility.

In contrast, Florian Grummes ends his interview on a bullish note towards Bitcoin stating that adoption around the crypto space has increased along with institutional investors entering the market.

He had previously predicted that the price of Bitcoin would reach the $100,000 level before the end of 2022, and now he says that everything depends on the movement of the Federal Reserve to curb inflation.

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