News

Coin Bureau Thinks That Crypto Yet To See ‘Peak Capitulation’

The Coin Bureau host warns the prices of cryptocurrencies to show signs of further decline.
Coin Bureau Thinks That Crypto Yet To See ‘Peak Capitulation’ 4

Guy says the recent rally is probably short-lived.

“If crypto’s current price action didn’t make it clear enough, the massive purge we saw in the second quarter has set the stage for a serious recovery rally which we’re arguably in.

However, it’s only a matter of time before the markets realize that all the macro factors which caused the recent crypto crashes haven’t been resolved, and this could take crypto to new lows.”

According to the Coin Bureau host, the cryptocurrency has yet to reach “peak capitulation” as it hasn’t experienced full-blown panic.

“In fact, you could make the argument that crypto hasn’t seen peak capitulation. And not just because many institutional investors like Kevin O’Leary believe we haven’t seen total panic yet.”

According to Guy, metrics like transaction volume, the number of decentralized finance (DeFi) users, and the Bitcoin hashrate — an approximation of computing power based on each miner’s hashrate — suggest that the sell-off has not yet occurred. achieve historical rates associated with peak capitulation.

“Although crypto prices have taken a beating, recall that the number of daily DeFi users has remained relatively stable by comparison, that trading volumes have barely budged and that Bitcoin’s hash rate continued to climb even while BTC’s price crashed.

If what we saw over the last half year had truly been maximum pain, then it stands to reason that all these metrics would have fallen by much more.”

According to the Coin Bureau host, the current rally is expected to end in September due to various factors such as Ethereum’s Merge upgrade being worked on.

“If you’re wondering when the current recovery rally could end, my bets are on mid to late September when Ethereum’s merge is expected to occur and when the Federal Reserve will return from its summer holiday with what’s likely to be a fresh rate hike to fight inflation.

Speaking of which, autumn is also when many parts of the world could start to face skyrocketing energy costs in anticipation of oil and gas shortages over the winter. Something that would almost certainly do serious damage to assets across the board.”

Coin Bureau Thinks That Crypto Yet To See ‘Peak Capitulation’ 5

At press time, the cryptocurrency market continues to maintain a total capitalization above the $1 trillion mark.

Cryptocurrency market capitalization. Source: CoinMarketCap

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

1 hour ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

3 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

3 hours ago

Bitcoin Price in 2025 Will Reach $200,000: Bernstein

Analysts at Bernstein predict Bitcoin price in 2025 could reach $200,000, driven by factors like…

4 hours ago

This website uses cookies.