Bitcoins:
customer He is currently a Forbes Cryptoasset and Blockchain Consultant and has successfully navigated the roller coaster of the Bitcoin and cryptocurrency markets.
After bitcoin prices surged earlier this summer, it, ethereum and the broader cryptocurrency market lost all of their gains, even as SEC insiders called a bitcoin earthquake “inevitable” from 15 trillion dollars.
Now that the Bitcoin, Ethereum and cryptocurrency markets are on the verge of a $1 trillion market capitalization, crypto services provider Matrixport has warned that “a price collapse is possible.”
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“In the absence of a new bull market, we need to consider just a few key factors to accurately predict the direction of cryptocurrency prices, including macroeconomic conditions, liquidity, regulatory developments and valuations,” wrote Marcus Thielen, head of research and strategy. Matrixport. In an emailed statement, it added that it "expresses continued concern about the fragility of the cryptocurrency market."
Recent gains in the Bitcoin and cryptocurrency markets have been largely fueled by BlackRock
Legal victory against developer Ripple and cryptocurrency manager Grayscale against the US Securities and Exchange Commission (SEC).
“While the approval of the Blackrock ETF may have some beta impact on other beta-linked cryptocurrencies, the fundamentals of the non-Bitcoin cryptocurrency world remain intact,” Thielen wrote.
Thielen also hinted at the impending liquidation of FTX creditors, which could lead to $3.4 billion in cryptocurrency sales on the collapsing exchange by the end of the year, with $200 million worth of cryptocurrency trades dollars every week.
“[The FTX sale] represents a potential liquidity gap that may be difficult to fill in the absence of Signature Bank, Silicon Valley Bank and Silvergate Bank, which represent at least 50% of fiat-to-crypto.” : Thielen wrote: “Venture capital funds are also under enormous pressure to return funds to investors,” adding to the downward pressure
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Cruel warning for Billy Bambrough's iPhone sent to 'thousands of devices'However, watchers of bitcoin, ethereum and other cryptocurrency markets were more optimistic, with one analyst pointing to the end of the Federal Reserve's tightening cycle in the coming months as a bullish sign.
“The end of interest rate hikes, especially when combined with the adoption of bitcoin ETFs, could be a key factor in bringing new capital to the market and increasing liquidity,” said Matteo Greco, research analyst at Phenicia Crypto Investor . Comments. .
Fed officials have said they are close to winning the post-pandemic battle against rising inflation, but warned that even if they take a break this month, it may not mark the end of the tightening cycle.
Federal Reserve Bank of Dallas President Lori Logan said in a speech last week: "At this point, I think we should proceed slowly rather than risk rising inflation that would weaken the economy too much."