Crypto daily news logo
  • Home
  • Cryptocurrency
    • Analytics
    • Bitcoin
    • Ethereum
    • Alt coins
  • Others
    • Regulation
    • Blockchain
    • Guide
    • Mining
  • Security
No Result
View All Result
  • Home
  • Cryptocurrency
    • Analytics
    • Bitcoin
    • Ethereum
    • Alt coins
  • Others
    • Regulation
    • Blockchain
    • Guide
    • Mining
  • Security
No Result
View All Result
Crypto News
No Result
View All Result
Home Analytics

Analysts are divided on the short-term prospects of bitcoin and cryptocurrencies as the market stabilizes.

Admin by Admin
20.05.2022
in Analytics
17 1
0

With the Bitcoin (BTC) and cryptocurrency markets appearing to have stabilized since last week’s brutal crash caused by the Collapse of Terra (LUNA), analysts offer their views on where the market can go next. And, as usual, opinions are divided: some predict the end of the bear market, while others argue that we are still in the early stages of the Fed’s tightening cycle.

Perhaps the most optimistic about the digital asset space among analysts from traditional finance was a group of analysts led by Alkesh Shah from Bank of America .

On Tuesday, in a private note to clients, Shah said concerns about the so-called crypto winter have no basis other than the negative impact that currently comes from the correlation of cryptocurrency markets with stocks.

The note states that crypto assets are still trading as an emerging tech asset class, similar to fast-growing assets with speculative risk. He added that cryptocurrency thus suffers from the same headwinds as traditional assets, including higher interest rates, higher inflation and the growing risk of a U.S. recession.

Transforming bubbles

Notably, Bank of Americas’ decision differed from that of a Zurich-based private bank. Julius Baer Group . According to a Bloomberg report, the bank’s CEO Philipp Rickenbacher said during a presentation to investors on Thursday that we can observe the moment of the explosion of the bubble in the crypto industry.

Despite the bleak short-term outlook, Rickenbacher still maintained a positive outlook on the long term, saying we all know what happened after the dot-com bubble. []which paved the way for the emergence of a new sector that really changed our lives.

Rickenbacher’s comments came a day after one of the most prominent cryptocurrency investors, the CEO. Galaxy Digital Mike Novogratz, for the first time in 10 days, spoke about the collapse of Terra and its algorithmic stablecoin terraUSD (UST).

After Novogratz’s initial comments, the investor went to Twitter again today, sharing a pessimistic forecast for the near term:

One of the problems with risk modeling is that all the examples of stress over the past 3 decades that have led to the fall occur in a weakening environment. [ Федеральной резервной системы США ], quoth Novogratz .

He also stressed that we are still in the early stages of the Fed’s policy tightening cycle, and said that this means that trust in models and even intuition should be lower.

There are no scenarios in which MicroStrategy will sell BTC

Meanwhile, while offering some confidence to at least bitcoin investors on Wednesday, a U.S. enterprise software company. MicroStrategy , which has 129,218 BTC ($3.8 billion) in its reserves, said it would not change its BTC strategy despite market turmoil.

We currently have no intention of selling, Andrew Kang, the company’s new CFO, told the Wall Street Journal.

I don’t know of any scenarios in which we would sell, he added.

What’s more, Kang agreed with Bank of America analysts, who argued that the recent downturn in the bitcoin market has little to do with bitcoin itself.

According to Kang, some recent volatility has certainly been due to activity outside of Bitcoin. He added that the company is tracking this from a market perspective, and said that [нет] nothing fundamental to Bitcoin, which we think presents any problems against our strategy.

Bear Market Looks Over

Also optimistic about the prospects of cryptography Yves Lamouret, president of the research firm Lamoureux Co. specializing in macroeconomic research.

“I see extreme [негативные] sentiment on the part of crypto holders, just as we have seen on other grounds,” Lamure was quoted as saying in a newsletter by Yahoo Finance. “Instead of one big swoon, bitcoin broke it into two pieces, creating a smaller downturn than the traditional drawdown. It looks complete from a bear’s point of view.it’s the market,” he added.

I plan to keep it for quite a long time.

Finally, speaking to CNBC on Thursday, Peter Smith, CEO and Co-Founder Blockchain.com , said that there is currently a leaching of risk and leverage in all financial markets, and said that this has been particularly strongly felt in cryptocurrency lately. a few weeks.

According to Smith, this is going to be a very long process of adoption and growth, so when you think about a cryptocurrency position, you need to gradually average and plan to hold it for quite some time.

As of 16:41 UTC, bitcoin was trading at $30,230, up 4% in the last 24 hours and nearly 6% in the last 7 days. At the same time, Ethereum (ETH) was worth $2,017, up 3% from a day earlier, but still down more than 2% in a week.

#Analysts #divided #shortterm #prospects #bitcoin #cryptocurrencies #market #stabilizes

Related articles

SkyBridge Director’s Predictions

SkyBridge Director’s Predictions

26.06.2022
Short positions at record levels

Short positions at record levels

26.06.2022
The value of Ethereum collapsed after bitcoin. The price of the cryptocurrency fell to its lowest level since the summer of 2021

Cryptocurrencies have risen in price. What is the reason for this and what will happen next

26.06.2022
“Rebound of the dead cat” of the cryptocurrency market

What are the chances of the cryptocurrency market to maintain growth next week?

26.06.2022
Tags: AnalystsBitcoincryptocurrenciesdividedmarketprospectsshorttermstabilizes
Share24Tweet15
  • Trending
  • Comments
  • Latest
Grayscale purchased ADA ahead of the Vasil hard fork

Grayscale purchased ADA ahead of the Vasil hard fork

09.06.2022
Decentralized Pictures announced the launch of a blockchain app for film financing

Decentralized Pictures announced the launch of a blockchain app for film financing

17.05.2022
First court ruling in the U.S. on the use of cryptocurrencies to circumvent sanctions

First court ruling in the U.S. on the use of cryptocurrencies to circumvent sanctions

17.05.2022
Mining firm Greenidge Generation increased quarterly revenue by 240%

Mining firm Greenidge Generation increased quarterly revenue by 240%

17.05.2022
The DeFi market suffered because of the collapse of Terra

The DeFi market suffered because of the collapse of Terra

Fed meeting is a negative factor for Bitcoin growth

Fed meeting is a negative factor for Bitcoin growth

Bitcoin strengthens as global stock market improves

Bitcoin strengthens as global stock market improves

Game company Square Enix will make blockchain and Play-to-Earn its business model

Game company Square Enix will make blockchain and Play-to-Earn its business model

51% of Latin Americans have made transactions with cryptocurrency

51% of Latin Americans have made transactions with cryptocurrency

26.06.2022
SkyBridge Director’s Predictions

SkyBridge Director’s Predictions

26.06.2022
Yuga Labs filed a lawsuit against the creator of “fake” BAYC tokens

Yuga Labs filed a lawsuit against the creator of “fake” BAYC tokens

26.06.2022
Short positions at record levels

Short positions at record levels

26.06.2022

Метки

altcoins Analyst assets Bank billion Binance Bitcoin bitcoins blockchain BTC called collapse crypto cryptocurrencies Cryptocurrency DeFi Digital ETH Ethereum fall fell growth increased investors June launch Luna market million miners Mining network NFT platform price rate regulation support Terra token tokens Top UST week XRP

Newsletter

No Result
View All Result
  • Home
  • Cryptocurrency
    • Analytics
    • Bitcoin
    • Ethereum
    • Alt coins
  • Others
    • Regulation
    • Blockchain
    • Guide
    • Mining
  • Security

© 2022 Crypto News Daily

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Privacy Overview
Crypto News

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.

Please enable Strictly Necessary Cookies first so that we can save your preferences!

Cookie Policy

More information about our Cookie Policy

Powered by crypto-daily.news  GDPR Cookie Compliance