Countries and institutions move into crypto despite market drop: Report
The crypto markets have been in decline since the start of the second quarter of 2022. Each time it seemed like the apparent crypto winter would experience a minor thaw, another notable collapse happened: Celsius, Three Arrows Capital, and more recently, FTX.
Approaching the end of 2022, it appears that the same negative sentiments are likely to remain. While some analysts say that Bitcoin (BTC) and Ether (ETH) derivatives are currently flashing positive signals for the market due to their high volatility, that same volatility is impacting the sentiment of other areas, including regulation, mining, nonfungible tokens (NFTs) and crypto stocks. Even with all this, companies such as Porsche are getting into the Web3 and NFT space and Brazil passed a law legalizing crypto payments nationwide. Over 60 deals from venture capital were still completed in November, bringing $800 million of capital inflows into the space. There are many great things being built during this time of uncertainty, but it is admittedly hard to ignore the current market conditions.
Download and purchase this report on the Cointelegraph Research Terminal.
Bitcoin is the bellwether of the entire crypto industry, and the market bottom may not yet be in. Historical bear market price drawdowns suggest BTC could still see a drop to the $12,000–$14,000 range.
With all this uncertainty, it’s useful to have subject matter experts who can help navigate all the various facets of the cryptoverse. This is why every month, Cointelegraph Research releases its Investor Insights Report analyzing key indicators from multiple sectors of the blockchain industry, including regulation, crypto mining, security tokens, Bitcoin and Ether derivatives and VC activities — all explored
Read more on cointelegraph.com
