- Shark Tank judge Kevin O’Leary forecasts a panic event in the near future that will take Bitcoin and altcoins lower than their present value
- Kevin is an avid crypto fan who holds Bitcoin, Ethereum, and Solana.
- Kevin’s remarks are at loggerheads with Fidelity Investment’s analyst Jurrien Timmer
- Crypto can recover after the panic event, which would purge the bad players
- Regulators are likely to create pro-crypto policies after the panic event
Shark Tank Judge Kevin O’Leary has forecasted that the crypto market is about to see its lowest low in the near future. Despite cryptocurrency prices falling like flies in 2022, Kevin is confident that a proper panic event hasn’t yet materialized. Considering his judging capabilities on Shark Tank, Kevin’s prediction cannot be taken lightly. Kevin is the proud owner of O’Leary Ventures, O’Leary books, O’Leary Mortgages, and O’Leary Fine Wines. He has a net worth of $400 million and holds cryptocurrencies like Bitcoin, Ethereum, and Solana.
Kevin O’Leary Predicts Crypto Panic Event
Kevin O’Leary is pretty sure that the crypto world hasn’t seen the bottom yet, and more bad news is coming in the future.
Mr. Wonderful’s not-so-wonderful prediction is not isolated. Many other analysts have expressed similar thoughts about the crypto market.
Kevin O’Leary was seen on the ‘Meet Kevin’ YouTube channel, where the host asked him if the bitcoin could fall below $13K. To this question, Kevin replied that it is impossible to say something for sure.
Kevin said his viewpoint is different from other analysts. He explained that bottoms are reached only after an event that creates complete pandemonium and sends the ‘biggest guys’ out of the market.
Although the Celsius debacle and Do Kwon’s Terra collapse are close to the seismic event O’Leary has warned about, these incidents haven’t sent the affected crypto players out of business.
Kevin O’Leary said that the biggest debacle in crypto would be either because of someone taking too much leverage or someone hiding a relationship in a counterparty holding.
However, Kevin is confident that the panic crypto event will eliminate all the rotten apples in the industry that are trying to deceive investors.
Once the market cleanses itself, the regulators may adopt a crypto policy, and money will come from institutional investors. The winners in the market will be those who can withstand volatility.
After hitting their highest highs last year, cryptocurrencies have depreciated in value this year – from a market cap of nearly $3 trillion in 2021 to $1 trillion in 2022. We believe that cryptocurrencies exploded because of overbuying due to Fear of Missing Out (FOMO) among investors. And our favorite shark Kevin O’Leary agrees.
We will likely see a significant crypto fiasco shaking its very foundation and knocking all the deceptive players out of the market. Once that happens, the Feds might ease off, and regulators start developing a proper crypto policy. And only then will we see investments flooding in and crypto prices rise again.