https://decrypt.co/103348/like-coming-off-heroin-the-depths-of-this-crypto-bear-market
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‘Like Coming Off Heroin’: How Bad Will This Bitcoin Bear Market Get?
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6/20/22 at 5:47pm
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Mathew Di Salvo
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over 3 years ago
Bloomberg Intelligence analyst Eric Balchunas told Decrypt that the Federal Reserve would be less likely to step in and lower interest rates—like it has done in the past—to help if things got messy. Julio Moreno, a macro on-chain senior analyst at CryptoQuant, an analytics firm, was slightly less pessimistic, telling Decrypt in an interview that Bitcoin could drop to around $16,000. The Fed likely will remain hawkish throughout 2022, pushing asset prices even lower, trader and analyst Alex Kruger told Decrypt. Lucas Outumuro, head of research at IntoTheBlock, told Decrypt that although Bitcoin and Ethereum work differently to traditional tech companies, they are performing like said tech stocks “likely due to there being an intersection between the types of investors holding these assets.”
Analysts interviewed by Decrypt said that this Crypto Winter could be even worse than the downtown that began in December 2017.
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