Legal coins may have the last laugh
For Peter Berezin, chief global strategist at BCA Research, positive real interest rates, the true cost of borrowing, have increased the opportunity cost of holding cryptocurrencies. “Fiat currencies can finally laugh,” he wrote in a note.
On the other hand, Arc founder Kathy Wood remains steadfast in her bullish predictions that the cryptocurrency will be worth $1 million by 2030, citing the digital asset’s underlying technology, while also suggesting that what happens at FTX will have more repercussions. In the near future.
Billions of dollars flee token exchange after FTX crash
Crypto speculators often click on technical chart patterns to understand what lies ahead.
On the other hand, Bitcoin’s rate of decline from its record high of around $69,000 in November of last year is close to 80%. According to John Rock, technical strategist (22V)Bubbles fully burst when said asset drops from 80% to 90%.
However, some dreamers see a return to $10,000, as this is the level where the cryptocurrency started its 2020 bull run.
Nevertheless, Adrian Berzelozny, CEO of cryptocurrency exchange Independent Reserve, believes there are relevant risks in the industry, predicting lower prices and a lot of uncertainty for at least the next three to six months.
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