• Investor Chris Burniske believes that Bitcoin (BTC) and crypto are primed for a big reversal.
• He cites multiple factors, including the Fed’s actions, the US government’s financial stability, and the emergence of DeFi products as evidence of this.
• Burniske also highlights the potential of tokenization of real-world assets (RWAs) in the upcoming Internet Financial System (IFS).
Venture capitalist Chris Burniske is calling a market bottom for Bitcoin (BTC) and crypto, citing multiple factors as evidence of an impending reversal. He believes that mature infrastructure for product use, coupled with compliant systems and tokenized real-world assets will all contribute to an upswing in the industry.
Fed Action Behind Us
Burniske points out that BTC is currently at its 200-week simple moving average, indicating a potential reversal in trend. He adds that “the worst of Fed action is behind us” and that although there is a credit crunch it does not constitute a crisis. Additionally, he notes that US government defaults are highly unlikely.
Emergence Of DeFi Products
The venture capitalist also highlights the emergence of decentralized finance products, which he believes could form part of an upcoming “Internet Financial System” or IFS. This system combines elements from DeFi with compliant systems that have been designed to allow larger pools of global capital to access open networks.
Tokenization Of Real-World Assets
Burniske believes tokenization of real-world assets will be key to this new system as it provides greater security and transparency for users compared to traditional financial systems. He states that these developments are exciting and suggests those who do not feel enthused should take another look at what is happening in the industry right now.
Overall, investor Chris Burniske is confident about cryptocurrency’s prospects due to various factors such as Fed action coming to an end, lack of US government defaults, emergence of DeFi products and tokenization of real-world assets providing more security than traditional systems can offer.