With Bitcoin’s price bottoming below $20K in June, the worst days of the Crypto Winter are over, according to Ran Neuner and Steven Sidley, who joined Kitco’s Editor-in-Chief and Lead Anchor, Michelle Makori, in a panel discussion.
“There are a couple of things still staring us in the face,” cautioned Sidley, who is also a best-selling author and a Director at Bridge Capital Future Advisory. “China deciding to invade Taiwan is a possible Black Swan event. If Russia decides to step up its aggression all the way to nuclear weapons, that’s another Black Swan event… but in most respects, I agree with Ran that we’re at the end of [The Crypto Winter.
“For as long as the macro environment continues to perform, I think we’ll be okay,” he said. “The probabilities are about 50-50 as to whether the Fed will increase [rates] by 50 basis points or 75 basis points, and I think that the market has already priced those rate increases in. In terms of whether we’re at the bottom or not, I’m confident to say that we’ve probably hit the bottom in crypto, unless another Black Swan event happens… but I think we’ve had the coldest days of winter.
Sidley added, “The BlackRock announcement was very profound. This [firm has] $10 trillion in assets that they manage.”
Ran is the worst analyst in this space.
Well, could be but maybe not. Sure enough we will see if Richard Heart is correct with 11k and just maybe lower.
Looks someone is in need of liquidity
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »