The firm’s head of trading, Jonah Van Bourg, predicts an eventual uptrend next year as a result of deregulation by China and Russia, which would increase bitcoin’s “geopolitical relevance,” as well as the continuous use of blockchain technology by large IT companies.
According to Cumberland‘s tweet, price action is consolidating after a very busy month.
Following the thread, the collapse of FTX and Terra withdrew oxygen from loan markets and expedited realignment with more sober technology valuations. Several companies in the industry have scaled back their objectives or gone out of business.
In the wake of billions of dollars worth of those liquidations and trillions of dollars of lost market capitalization, the next leg of price action is almost entirely dependent upon whether there are further firesales to come.
While Van Bourg believes that a few portfolios will be unwound in the coming months, the major risk he sees is a lack of cryptocurrency rather than a surplus.
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 us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Thana
Coincu News
pump.fun’s unregulated live streams expose troubling societal behaviors, raising questions about blockchain ethics and decentralized…
SHIB has increased by 4.30% in the previous 24 hours, while Rexas Finance continues to…
What must investors and businesses do to seize opportunities in the rapidly evolving technology landscape?…
More than 50 Partners Gathered, Including TON Society, TOX, Yescoin, and MEXC, Converging in Bangkok
The much-anticipated Antarctic Exchange (AX) Testnet Chapter 2 is here, kicking off on November 25th,…
Cantor Fitzgerald plans a $2B Bitcoin Lending Program via Tether, leveraging Bitcoin as collateral and…
This website uses cookies.
