CoinShares chief strategy officer Meltem Demirors said Monday that the cryptocurrency market will likely "stay where we are for a while," with no near-term upside catalysts on the horizon.However, longer-term, Demirors told CNBC that she expects Bitcoin (BTC-USD) to reach a new all-time high within the next 24 months. Still, she thinks the current downturn will wash out a lot of other cryptos that don't have the backing to survive."There's a very long, long tail of crypto assets that I think will go to zero that don't really have any long-term prospect," she predicted.Demirors added that Ethereum (ETH-USD) and Solana (SOL-USD) will also find longer-term investors, as they have differentiated themselves from Bitcoin (BTC-USD) and other competitors.As to BTC-USD itself, the CoinShares CSO contended that the crypto could push further lower, although she doesn't see it falling below $14K. She added that it seems to have significant support around the $20K level.In Monday's trading, Bitcoin was sitting at around $20.4K, down about 2% on the day. The crypto had gotten as low as $17,605.78 in June, after hitting a high of nearly $69K late last year.For more on Bitcoin, read a bullish take from Seeking Alpha contributor Mike Fay, who says the action has started to feel "like a one-sided trade again."
