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The cryptomarket in a bear phase
The cryptomarket is melting. The cryptomarket meltdown is a result of the bearish sentiment in the market. The market sentiment has been negative for a while now and it doesn’t seem to be improving. This has seen many people lose faith in cryptocurrencies and want to move back to fiat currency.
Also, the demise of 3Arrows Capital, Voyager and Celsius is not helping with consumer confidence. To add fuel to the fire, the founders of 3 Arrows Capital have disappeared and inflation is soaring, with forecasts talking about close to 10% inflation in the EU, US and the UK.
Nevertheless, not all hope is lost. It could actually be the case that the cryptomarket will emerge stronger after this bear market, as it did with previous one.
Could decentralisation be the answer? We comment on this and more with Lance Parker from BankX.
Lance Parker is