Coinbase predicted prolonged cryptosima due to ftx collapse

Coinbase predicted prolonged cryptosima due to ftx collapse

Coinbase predicted prolonged cryptosima due to ftx collapse

FTX collapse undermined the trust of investors and is able to extend the cryptosima until the end of 2023. This point of view is adhere to Coinbase analysts.

All this means that remediation Will Take Time and the Winter Take A Few More Months to Work Through The System. End/

Read The Full Report Here 👇 https: // t.CO/1RT9TKLUNH

– Coinbase Institute (@coinbaseinsto) Novmber 15, 2022

The events around the FTX turned out to be a deliberate position and the departure of large buyers, which increased the vulnerability of the cryptocurrency market. “Second Order effects” that will affect the clients and counterparties of Bitcoin tenge and the related Alameda Research are not excluded.

In addition to FTX bankruptcy, investors will continue to monitor the dynamics of interest rates, they indicated in Coinbase.

With their optimistic development, the market will recover from shock after a few months. Analysts doubted the improvement of the macroeconomic background in January after the current weakening of the dollar against the background of encouraging inflation data.

Poor liquidity will remain until the end of the year. The dominance of stabilcoins has grown to 18% of the total capitalization of the market, which collapsed from https://gagarin.news/news/is-it-the-end-the-hotbit-exchange-suspends-its-operations/ the beginning of the month to the collapse of FTX from $ 1 trillion to $ 800 billion.

“A combination of increase hashrate (as a result of which the complexity increases), the growing costs of electricity and lower prices led to more and more intense economic conditions for bitcoin miners ”, – The report says.

Recall that the Blockfi cryptolending platform will file a bankruptcy statement after the start of ftx restructuring, according to WSJ.

Previously, CEO Binance Chanpen Zhao compared the current situation in the industry with the financial crisis of 2008. In his opinion, in the coming weeks, even more companies may collapse.

Before Zhao, co -founder and CEO Circle Jeremy Allaire compared FTX problems with Lehman Brothers Investbank collapse, which became the 2008 Crisis catalyst.

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