Reading time: ~2 m
The founder of the Thai cryptocurrency exchange Satang Corporation recommended that citizens of the country suspend investments in digital assets, since now the market is in a downtrend.
The head of Satang Corporation Poramin Insom (Poramin Insom) said in an interview with journalists of the Bangkok Post that in the near future the global cryptocurrency market may face high volatility. The main reasons will be the increase in interest rates and the tightening of the monetary policy of states.
In this regard, for the period of the downward trend, Insom recommends Thai investors to significantly limit or suspend investments in digital assets. Insom justifies his assumption by the fact that the direction of the cryptocurrency market is influenced by three key factors: rising interest rates, the level of inflation and the number of jobs in the United States.
At the same time, all three key factors depress market sentiment. For example, the U.S. Federal Reserve is expected to raise interest rates by 0.5 percentage points at least twice in June and July 2022. Also disappointing are the forecasts for the next 3-4 months on the upcoming decline in the number of jobs and the impossibility of restraining inflationary processes.
In May, according to the decree of the Thai government, operations with cryptocurrencies and tokens will be exempt from paying value added tax on trading platforms registered by the Ministry of Finance of the country.
#Satang #Corporation #called #Thai #investors #suspend #investments #digital #assets
