Tag: Analyst

Crypto Analyst Alerts Investors Forecasting Inapt BTC Moves In September

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After the Federal Reserve annual meeting, BTC prices and other cryptocurrencies started a downhill trend on August 26. As of August 29, the market is showing no sign of recovery. Instead, the total crypto market cap has lost its $1 trillion mark. The current crypto market cap level stands at $950 billion, after losing a whopping $50 billion in 24 hours. BTC’s price lost its stand above $20k to settle at $19,510 on August 28. It gradually climbed to $19,853.93 on August 29 before falling to $19 817. Related Reading:…

Mt.Gox’s 137,000 Bitcoin Repayment Plan Delayed, Analyst Says Fear Was Unwarranted

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Summary: Michaël van de Poppe opined that Mt.Gox’s Bitcoin repayment process wouldn’t tank the market. The defunct exchange was scheduled to reimburse creditors over 100,000 BTC tokens starting this August but further delays emerged North of 750,000 Bitcoin tokens was stolen from the Tokyo-based platform in a massive hack in February 2014. News of the repayment supposedly triggered panic in the crypto market. Bitcoin traded just above $20,000 on Sunday after dipping below on Saturday.  One crypto proponent surmised that panic in the virtual currency market is “unwarranted” as Mt.Gox…

Morgan Stanley Analyst Says Crypto Economy’s Liquidity Improved, but There’s ‘No Huge Demand to Re-Leverage’ – Market Updates Bitcoin News

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An analyst at the New York-based financial services and investment management company Morgan Stanley detailed on Monday that crypto liquidity seems to be recovering. Morgan Stanley’s Sheena Shah highlighted in a note to investors that the stablecoin market capitalization is seeing fewer redemptions for the first time since April. Morgan Stanley Investors’ Note Says Crypto Winter Could Be Thawing, but Re-Leverage Demand Is Still Non-Existent The crypto winter may be starting to warm as institutional investors have halted the redemption of the crypto economy’s top two stablecoins, according to a…

Analyst Says if Silver Dips Below $18, Precious Metal Could ‘Get Absolutely Smoked’ — Morgan Report Founder Expects a Supply Crunch – Finance Bitcoin News

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While gold’s been teetering along at just under $1,750 per ounce, the price of silver has dropped considerably, sliding 2.33% in value against the U.S. dollar during the last 24 hours. Silver has lost more than 28% against the dollar during the last 165 days or since March 8, 2022. Despite the lower prices, David Morgan, the founder of The Morgan Report, believes silver is expected to see a crunch in supply. In ten years’ time, Morgan thinks silver will be one of the best investments of the decade. David…

Coinbase Could Be a Material ‘Beneficiary’ of Ethereum’s Merge Transition, JPMorgan Analyst Says – Finance Bitcoin News

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JPMorgan analyst Kenneth Worthington says digital currency exchanges like Coinbase will end up being a meaningful “beneficiary” of Ethereum’s long-awaited transition from proof-of-work (PoW) to proof-of-stake (PoW). Based on $2K ethereum prices and a 5% ethereum yield, Worthington explained that The Merge could boost Coinbase’s annual income by $80 to $100 million from staking services. As the Financial Giant’s Market Strategists Focus in on The Merge, JPMorgan Analyst Says Staking Revenue Could Bolster Coinbase In 29 days, the Ethereum network is expected to implement The Merge on or around September…

Function over fun? Analyst says P2E games don’t need to be ‘fun’ to retain users

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Play-to-earn (P2E) blockchain-based games gathered investors’ attention in late 2021, with Axie Infinity leading the pack with over 2 million active users. In P2E games, players are awarded tokens or nonfungible token assets (NFTs) as they progress throughout the game. These digital assets can be sold using marketplaces and cryptocurrency exchanges, generating income in a decentralized manner. However, there is a large discrepancy between P2E and traditional PC and console gaming experiences. In that sense, crypto games are a couple of decades behind due to the restrictions imposed by blockchain technology.…

Bitcoin likely to transition to a risk-off asset in H2 2022, says Bloomberg analyst

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Bitcoin is likely to transition from a risk-on to a risk-off asset in the second half of 2022, as the macroeconomic environment is rapidly shifting towards a recession, said Mike McGlone, senior commodity strategist at Bloomberg, in a recent interview with Cointelegraph. McGlone predicted: “ I see it transitioning to be more of a risk-off asset like bonds and gold, then less of a risk-on asset like the stock market.” According to the analyst, the crypto market has flushed out most of the speculative excesses that marked 2021 and it is…