It’s no secret that the virtual device market is currently going through an unprecedented period of crisis. This disaster also concerns the classic stock market and the experts are not optimistic for an immediate resumption of the rise.
The current situation of virtual devices continues to worry and the experts do not reassure. At least that’s the opinion slipped by Russell Thomson, the CEO of digital asset management company LibertyRoad Capital during an interview. In his opinion, “There is no sign of a bottom at the moment. And we need to put a floor in place for this market to recover.” In other words, the market is not going to improve right away, things may even get worse. By way of illustration, Bitcoin has fallen -70% in 18 months. Just like Ethereum which has experienced a drop of -76% in just 4 months.
The consultant to digital asset broker GlobalBlock Marcus Sotiriou believe that the inflation observed at the beginning of the month in the United States is one of the main reasons for this crisis of cryptocurrencies. It should be noted that the country of Uncle Sam has just franchised a inflation of 8.6%, a record over the last 4 decades. The conflict in Ukraine is behind some of this price spike. An increase that spares no area in the world, since Europe is currently experiencing inflation of 8.1%.
The cryptocurrency market will collapse according to experts
To make matters worse for the fall of stablecoins, Celsius the crypto lending giant no longer accepting any transactions since June 13. Marcus Sotiriou is alarmist and warns “Crypto markets are collapsing in part due to the risk of insolvency of one of the largest lending platforms Celsius, after it was widely speculated that they were irresponsible with the funds of the clients. “.
So the question that all investors are currently asking is when will the cryptocurrency crisis end? Difficult to answer, because the positions agree on the fact that it will not be now, but divergent on the exact date of the resumption.
For Thomson, it is necessary for the stock market to reach the lowest scores. He therefore expects Bitcoin to trade against $17,000 before a real click occurs. Marcus Sotiriou is less evasive and expects a recovery by the year 2023. Same story for the boss of the crypto exchange BuyUcoin Shivam Thakral for whom the future of cryptocurrencies will depend on the relief of tight monetary policies.