
Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
According to JPMorgan, the BTC market may experience liquidity shock if traders lose faith in Tether (USDT). What is Tether? It is a stablecoin that is used in transactions to move between cryptocurrencies and fiat money. Tether’s value is linked to the USD on a 1:1 basis. Besides, in comparison to other cryptos such as the BTC that are “mined,” Tether is created on customer orders. As a result, some doubts appeared that Tether was used to increase the value of Bitcoin. According to JPMorgan, nearly 50%-60% of Bitcoin traded for USDT since 2019. Therefore, the loss of confidence in Tether may cause a fall in bitcoin’s value.
Indeed, there are some risks for Bitcoin in the short term, and the largest one is Tether. However, these risks are still low as cryptocurrencies are rising no matter what with major banks and big companies entering the crypto market. Elsewhere, in the last decade, crypto markets have yielded higher returns than most traditional investments. Finally, after presenting some risks for the crypto market, JPMorgan still claimed that its long-term target for Bitcoin is $146 000.
“Bitcoin’s competition with gold as an “alternative currency” will likely continue as millennials become a more important component of investors’ universe and given their preference for ‘digital gold’ over traditional gold,” said JPMorgan.
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Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!
Consensus Magazine says AI is killing venture capital interest in cryptocurrency, project funding has halved in a year, and liquidity is leaving the crypto market and going to AI funds. Read the full report and learn more!
Coinbase (COIN) gained 15% yesterday, and Bitcoin increased over 6% after Grayscale's victory in court against the SEC. Read the full report to get more valuable insights!
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
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