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

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Duminică, 24 iulie, 2022 3:30 AM

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.

Cine ar fi prezis că atunci când ambele criptomonede erau în cea mai bună formă în urmă cu o lună, vor experimenta o prăbușire atât de dureroasă?

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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.

Consecințele economice la nivel mondial au exacerbat problema, ducând la o scădere a prețurilor jetonelor și o criză de lichiditate. Cu toate acestea, există acum numeroase indicii că partea cea mai rea s-a încheiat.

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.

Analiștii financiari au declarat recent pentru CNBC că nu sunt îngrijorați de impactul deplin al cripto-ului asupra economiei mai largi a SUA, din cauza faptului că cripto nu este legat de datorii.

Potrivit unui economist de la Universitatea din Toronto, Joshua Gans:

„Oamenii folosesc rareori criptomonede ca garanție pentru obligații în lumea reală. Fără asta, acestea sunt doar pierderi de hârtie. Prin urmare, această problemă este scăzută pe lista preocupărilor economice.”

“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

La 990 de miliarde de dolari, comparativ cu 34 de trilioane de dolari ale pieței de acțiuni din SUA, cripto-ul rămâne prea mic pentru a avea un impact semnificativ asupra piețelor financiare, a subliniat analiza 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.”

De la această scriere, 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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Sursă originală: Bitcoineste