[ad_1]
Bitcoin
Bitcoin
apply now Forbes CryptoAsset & Blockchain Advisor Navigating the Latest Bitcoin and Crypto Market Crash
Bitcoin’s price approaches $20,000 per Bitcoin for the first time since the shock collapse of FTX, up almost 20% from this time last week (although these smaller cryptocurrencies are pushing it to the dust). left inside).
With the now closely monitored Bitcoin and cryptocurrency fear and greed index rising to its “greediest” point in four months, traders are left wondering how long this Bitcoin price rally will last and how long it will last. , asking if the $2 trillion total decline was wiped out across the cryptocurrency market. It may finally end.
Brutal bear markets need up-to-date information the most! Sign up for free now crypto codex—Stay ahead of the market with our daily newsletter for traders, investors and anyone interested in cryptocurrencies
Bitcoin’s price hike has pushed the cryptocurrency market back to about $1 trillion.
“The recent breakout from $18,000 is likely to bring some technical traders back into the market,” Yuya Hasegawa, a cryptocurrency market analyst at Tokyo-based Bitbank, said in an emailed comment. So the near-term outlook for Bitcoin looks bright.” Lower inflation means the Federal Reserve will slow the pace of planned rate hikes.
“It’s also a bit surprising that Fed Chairman Jerome Powell refrained from detailing future monetary policy in his speech in Sweden this week and didn’t plunge into the market’s somewhat premature hopes for a slowdown in the pace of rate hikes. I was relieved,” Hasegawa added, but warned that Fed officials could slap the market.
Bitcoin price has suffered a significant loss by 2022. This was exacerbated by the collapse of various cryptocurrency companies, culminating in the bankruptcy of his major cryptocurrency exchange, FTX.
However, over the past two years, Wall Street has embraced Bitcoin, and some of the biggest financial giants have begun the slow process of entering the Bitcoin and crypto markets.
“It’s easy to forget that there is a significant lead time for institutional investors to take Bitcoin positions,” said Tycho Onnasch, founder of the institutional Bitcoin lending protocol Zest.
“Many institutional investors interested in taking Bitcoin positions during the 2021 fever season have finally completed their internal processes to allow them to start trading Bitcoin. Breaking news. They have a lengthy process that allows them to make their move, including setting up custody, finding a broker, and setting up a performance management system.
Sign up now crypto codex— Free daily newsletter for those interested in cryptocurrencies
Bitcoin’s price surged into the new year, but remains far from all-time highs. … [+]
On the other hand, some expect the institutional investor flock to Bitcoin to continue this year.
Alex Adelman, CEO of bitcoin rewards app Lori, said in an emailed statement that “traditional banking and finance will continue to adopt bitcoin and cryptocurrencies.”
“Industry leaders such as BlackRock, Fidelity and others launching cryptocurrency services in 2022 set a new cryptocurrency precedent on Wall Street, spurring competition between traditional institutions and creating an ever-growing array of cryptocurrency services. will launch cryptocurrency products and services.”
[ad_2]
Source link
