Cumberland Sees ‘Budding Uptrend’ For Market

A “budding uptrend” is developing in the cryptocurrency market as the macroeconomic environment improves, the dollar declines, and greater use of digital assets begins. Cumberland, the cryptocurrency division of Chicago-based trading behemoth DRW, claims as much.

Additionally, the business stated on Monday that interruptions at the beginning of 2022, such as Russia’s invasion of Ukraine and supply-chain problems, have achieved a rough equilibrium. An increase in asset prices should follow a decrease in volatility in the absence of fresh geopolitical events.

The company also emphasized how a Republican victory in tomorrow’s midterm elections would result in a more hospitable atmosphere in Washington, DC. It stated:

“The impact of this has yet to be felt, but as we’ve seen from previous cycles, strong adoption narratives can lead to parabolic rallies. Thus, the current risk/reward feels meaningfully asymmetric.”

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