Bitcoin ‘Back With A Vengeance’ – Crypto Liquidity Crisis Is Over, Citi Report Suggests

By Bitcoinist - fyrir 1 ári - Lestrartími: 3 mínútur
Sun, 24. júlí 2022 3:30

Bitcoin ‘Back With A Vengeance’ – Crypto Liquidity Crisis Is Over, Citi Report Suggests

Bitcoin could be getting the kick out of the sea of green flashing on most crypto exchanges’ screens these days. The proverbial massive ice in the crypto winter may now be thawing, and soon everything will be okay – at least that’s what a major American multinational investment bank is saying in its latest findings.

Multiple indicators show that the liquidity crisis in the broader cryptocurrency markets may have seen the worst. This is the conclusion suggested by Citi Bank, in its latest study.

Since its November peak last year, Bitcoin’s value has decreased by more than half, causing the whole cryptocurrency market to plummet.

Both Terra (LUNA) and TerraUSD (UST) have witnessed precipitous drops, including Bitcoin, that have alarmed a great number of investors.

Hver hefði spáð því að þegar báðir dulritunargjaldmiðlar voru í sínu besta formi fyrir mánuði síðan, myndu þeir upplifa svo sársaukafullt hrun?

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Bitcoin Feeling The Pain Disappear

Investors withdrew their funds from the crypto market as a result, causing Tether (USDT) to lose its peg to the dollar and forcing some of the largest bitcoin companies to lay off a significant number of employees.

Efnahagslegar afleiðingar um allan heim jók vandann, sem leiddi til lækkunar á táknverði og lausafjárkreppu. Engu að síður er nú ýmislegt sem bendir til þess að það versta sé lokið.

Citi believes crypto markets are too small and relatively isolated to create a ripple effect on the financial sector or the economy as a whole, but they can nevertheless influence investor mood. The bank’s assessment indicates that fears of contagion have likely reached its pinnacle, at least temporarily.

Fjármálasérfræðingar sögðu nýlega við CNBC að þeir hafi ekki áhyggjur af fullkomnum áhrifum dulritunar á breiðari bandaríska hagkerfið vegna þess að dulmál er ekki tengt skuldum.

Samkvæmt hagfræðingi frá háskólanum í Toronto, Joshua Gans:

„Fólk notar sjaldan dulmál sem tryggingu fyrir skuldbindingum í hinum raunverulega heimi. Án þess er þetta eingöngu pappírstap. Þess vegna er þetta mál neðarlega á lista yfir efnahagslegar áhyggjur.“

“Stablecoin and ETF outflows have begun to exhibit indications of stabilization, and Coinbase’s discount has also returned to normal,” the Citi report says.

Bitcoin’s Resilient Nature

990 milljarðar dala samanborið við 34 billjónir Bandaríkjadala hlutabréfamarkaðarins er dulritunarmál enn of lítið til að hafa veruleg áhrif á fjármálamarkaði, benti greining Citi á.

This assessment is comparable to that of Diego Vera of Buda.com, who stated that Bitcoin has seen numerous cycles in the past and has always rebounded “with a vengeance.”

Eins og með þetta skrifar, Bitcoin is currently trading at $22,774.66, up 8% in the last seven days, data by Coingecko show.

Bitcoin Can Still Hit $100K

Those who believe Bitcoin will crash to $10,000 this year are on the extreme end of the crypto-skeptic spectrum; nevertheless, many other market observers have forecast that the world’s most sought-after crypto can still reach the vaunted $100,000 mark in the coming years, albeit at a slower rate.

Meanwhile, Sam Bankman-Fried, CEO of FTX, concedes that the catastrophe was “considerably worse” than he anticipated.

According to a July 7 Reuters report, the 30-year-old billionaire feels the worst of the liquidity turmoil has dissipated despite the ongoing crypto winter.

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Upprunaleg uppspretta: Bitcoiner