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Thursday was a bloodbath for traditional and cryptocurrency markets. On the worst day of trading since 2020, Bitcoin (BTC) dropped over 7%, while the Nasdaq slipped over 5%. Many hoped for capitulation in the trade and crypto markets, and although the short-term outlook for Bitcoin looks weak, one analyst and some evidence would suggest
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"I don't remember this level of bearishness amongst contacts and Twitter, even back on cycle lows in January," one fund manager said. Source
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As such, it is probably more accurate to refer to bitcoin as an aspirational store of value. Yes, a borderless, permissionless, uncensorable, sound monetary system-of-value transfer with a predictable monetary policy is theoretically a great store of value, but until that narrative penetrates more than 100 million people, the other
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The latest moves in crypto markets in context for April 1, 2022. Source
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By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock Last week there was a risk-on sentiment after the FOMC meeting where the Federal Reserve raised rates by
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Bloomberg analyst Mike McGlone is convinced Bitcoin is on track to reach $100K in 2022, as it completes its transition from a risk-on to risk-off asset. While the Fed is planning to raise interest rates to fight inflation, risk-on assets like crypto may suffer, as people would likely prefer to invest
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