The long-term fundamentals of the Crypto Market look promising, despite the upheaval in October and November that left asset prices and investor sentiment in the Crater, according to Hunter Horsley, CEO of investment firm bitwise.
Horsley said the The four-year market cycle is deadreplaced by a more mature market structure and changed dynamics due to the pro-crypto regulatory pivot in the US. He said on a Friday x Post:
“Since the launch of Bitcoin ETFs and the new administration, we have introduced a new market structure: new players, new dynamics, new factors that make people buy and sell.
I think there’s a pretty good chance we’ve been in a bear market for about 6 months now and almost through it. The setup for crypto today has never been stronger,” Horsely added.
His comments offer a controversial view of crypto investing sentiment, which fell to its lowest level since Februarywhile asset prices remain well below the 2024 high and fear grips the market.
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Sentiment craters on “extreme fear” as analysts project where prices are headed
The “Crypto Fear and Greed Index,” a metric that gauges investor sentiment, is at 16 at the time of this writing, indicating “intense fear,” according on CoinmarketCap.
Market Analyst and Coinbureau Founder Nuc Puckrin said which despite the 25% dip is the Minimum drop-level drop during this cyclecompared to previous dips of more than 30%, investor sentiment is still cratered.
The price of bitcoin (BTC) fell to a six-month low of $ 94,590 on Friday, prompting analyst projections of further downside at the $86,000 level.
Investor and financial guru Robert Kiyosaki blamed The collapse of the crypto market low level of liquidity And it is said that the prices of crypto and precious metals will increase when the government prints more money to finance budget deficits.
Liquidity tends to drive asset prices; High liquidity from low interest rates and the expansion of money supplies drives up prices, and lower liquidity and constrained credit tend to lower asset prices or cause markets to stagnate.
Although the Federal Reserve of the United States has started to drop interest rates, just about 44% of entrepreneurs forecast a rate cut in December, according to Data from the Chicago Mercantile Exchange (CME).
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