Alliance Co-Founder: Cryptocurrency Market Needs Correction Before Growth

Odaily reports that Alliance co-founder @QwQiao has reaffirmed his caution about the cryptocurrency market, emphasizing his previous predictions of a potentially more severe bear market. This warning stems from concerns regarding uninformed investors’ participation in digital asset trading platforms (DAT) and Exchange Traded Funds (ETF) products. He believes this influx of new entrants will lead to market instability before any potential growth can take place. QwQiao predicts a necessary 50% correction in the market for these investors to exit their positions, allowing for a firm foundation and resumption of long-term growth. While he didn’t specify a timeline for this anticipated correction, his reaffirmation emphasizes his unwavering stance on this prediction.