Here’s Why Bitcoin Could Fall Even More, According to FS Investments Chief Market Strategist

Alex Dovbnya

Cryptocurrencies Will Suffer Even More If The Federal Reserve Shrinks Its Balance Sheet Significantly

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Troy Gayeski, Chief Market Strategist of FS Investments convinced that cryptocurrencies could face increased selling pressure if money supply growth turns negative.

The US Federal Reserve shrinking its balance sheet is becoming a major bearish catalyst for Bitcoin.

“You should never own more crypto than you could lose,” Gayeski said.

Bitcoin is currently changing hands, slightly above the $20,000 level, after losing recent gains along with US stocks on Tuesday.

Still, according to Gayeski, crypto is still one of those asset classes that could quadruple in value over the next four years.

Bitcoin is down more than 70% from its record high, data from CoinGecko shows.

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