Fed-Fueled Crypto Bear Market Could Last 12-18 More Months: Solana Co-Founder
Yakovenko pointed to continued pain in the markets for some time to come, citing the impact of the U.S. Federal Reserve’s ongoing rate hikes. But Yakovenko also told co-hosts Dan Roberts and Stacy Elliott that he’s optimistic about an eventual return to crypto market growth.
“Looking at macro stuff, my guess is there's probably 12 to 18 months more of this brutal Fed rates going up,” he said. “But there is an end to it. And just like the last bear market, a lot of teams that built and focused on product-market fit, and really tried to build amazing products—a lot of those succeeded, I think, in a very dramatic way.”. Solana has been no exception to the wider crypto market decline, with the price of SOL down 81% since the start of 2022 per data from CoinGecko.
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