The crypto market is going through a tough period at the moment.
Shall one worry and even panic? Why / why not?
“The people who are deep into crypto, and especially building things, a lot of them welcome a bear market,” Buterin said during an interview with Bloomberg.
“They welcome the bear market because when there are these long periods of prices moving up by huge amounts like it does — it does obviously make a lot of people happy — but it does also tend to invite a lot of very short-term speculative attention.”
During the rough, challenging market phase, one can clearly see who is creating something fundamental. In the end of the day, it’s only far-reaching plans that matter. A flash in the pan project with weak, unprofessional team, aiming to get some dough do not worth investors’ attention.
David Kelly, chief global strategist at JPMorgan Asset Management. Cryptocurrencies are likely to plunge even further as the Federal Reserve raises interest rates and brings an era of “crazy” speculation to an end, according to a senior JPMorgan strategist.
“At some stage, I expect to see massive losses in crypto, because there is nothing there”
As for the conditions necessary for the return to market growth, experts from SANTIMENT state the reason behind all the negative trends is a strong correlation between Bitcoin and the stock market.
Feel free to chack the Santiment resource: https://santiment.net