By Bitcoinist - 1 tau ki muri - Wā Pānui: 3 meneti
Bitcoin 'Hoki Ma te Ngautu' – Kua Mutu te Kino Waiwai Crypto, Ka Whakatauhia e Citi Report
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.
Ko wai i tohu i te wa e pai ana te ahua o nga moni crypto e rua i te marama kua pahure ake nei, ka pa ki a ratau te tukinga mamae?
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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.
Ko nga hua ohaoha o te ao i kaha ake te raru, na te hekenga o nga utu tohu me te pakaru o te moni. Heoi ano, he maha nga tohu kua mutu te waahanga kino rawa atu.
Atahanga - Rorohiko BleepingCiti 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.
I korero tata nga kaitirotiro putea ki a CNBC kaore ratou i te awangawanga mo te paanga o te crypto ki runga i te ohanga whanui o Amerika na te mea kaore te crypto e hono ki te nama.
E ai ki tetahi tohunga ohaoha mai i te Whare Wananga o Toronto, Joshua Gans:
"He iti noa te whakamahi a te tangata i te crypto hei here mo nga herenga i roto i te ao tuuturu. Ki te kore tera, he pepa ngaro noa enei. No reira, he iti rawa tenei take ki te rarangi o nga awangawanga ohaoha."
“Stablecoin and ETF outflows have begun to exhibit indications of stabilization, and Coinbase’s discount has also returned to normal,” the Citi report says.
Crypto tapeke mākete i $1.06 trillion i runga i te tūtohi ia rā | Puna: TradingView.comBitcoin’s Resilient Nature
I te $990 piriona ka whakatauritea ki te $34 trillion o te maakete hea o Amerika, he iti rawa te crypto ki te tino paanga ki nga maakete putea, i kii te tātaritanga a Citi.
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.”
Ka rite ki tenei tuhituhi, 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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Featured image from Qwipster.net, chart from TradingView.comKuputuhi taketake: Bitcoinko