Crypto Expert Who Accurately Predicts The $40K Slump Calls for $30K to $36K BTC

Chris Burniske, co-founder of crypto-focused venture capital Placeholder, has predicted that bitcoin’s price may likely slump to as low as $30,000 before nearing its previous all-time high (ATH). In the past, Burniske has given accurate price predictions regarding Bitcoin and the global crypto market.

Prediction: BTC to Drop to $30K

The crypto expert speculated via a tweet that BTC will continue decreasing to a price range between $30,000 and $36,000. He added that he would not be entirely surprised if BTC dips further to the “mid-to-high” $20,000 mark. Burniske explained that BTC may subsequently “make an actual move towards previous ATHs.”

According to the Placeholder co-founder, all these BTC price movements will require several months to play out.

Several members of the crypto community on X share the same thoughts as Burniske on his latest prediction. The reason is not far-fetched as the crypto expert has a history of giving accurate crypto-focused speculations.

A day after the spot Bitcoin exchange-traded fund (ETF) began trading in the United States, Burniske predicted that Bitcoin’s value would likely drop. Likening the financial product to Coinbase’s initial public offering (IPO), he stated that Bitcoin’s increased price during the “momentous event” may be the highest price the asset will see for the following few months.

In another stance, Burniske predicted in mid-November 2022 that the crypto market would plunge in valuation just as the FTX downfall began to unfold. The speculation became a reality when the market valuation dropped below $1 trillion. The crypto expert added that the crypto market valuation will soar above $10 trillion, a prediction that is yet to come true.

BTC Trades Below $40K

According to the price-tracking website CoinStats, BTC currently trades at $39,900, representing a 2.8% decrease within the last seven days.

The asset’s current price is a decrease from its value at the time when the Bitcoin ETF was yet to be approved in the U.S. Amid the anticipation for the investment vehicle, the leading cryptocurrency soared to as high as $47,000.