The ex-Grayscale Director, Phil Bonello, made some bold predictions about the future of Bitcoin. He suggested that the current dip in Bitcoin's price could result in a significant drop. Bonello also mentioned that ETF activity is expected to surge this year.

In a recent post, Bonello discussed various reasons why Bitcoin may fall to $52,000. Factors such as inflation, government spending trends, and the rise of other cryptocurrencies were highlighted. He also expressed concerns about growing inflation.

Additionally, Bonello noted that the crypto market could be impacted by the volatility of the Yen and ongoing geopolitical tensions. He emphasized the importance of government spending trends for the future of Bitcoin and the cryptocurrency market.

Despite recent declines in altcoin values, with some dropping by more than 50%, Bonello remains confident in Bitcoin's ability to withstand these fluctuations. He believes that ETF activity will increase significantly in the coming year.

Bonello also mentioned that public interest in Bitcoin has decreased significantly compared to when it was priced at $50,000. Market indicators such as funding, basis, and skew appear to be neutral at the moment. At the time of writing, Bitcoin is trading at $63,339, down 1.02% in the last 24 hours according to CoinMarketCap data.