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TALLINN, ESTONIA, November 15, 2022 /EINPresswire.com/ — The collapse of the FTX exchange
The cryptocurrency sector is now experiencing not a terrible but one of the most intense weeks in recent memory. The primary cryptocurrency known as Bitcoin has seen a price decrease of about 20% for the first time in the last two years.
This was caused by the failure of FTX, one of the major cryptocurrency exchanges. Significant errors made by the head of the exchange are to blame for this collapse. The consensus among industry analysts is that the price of bitcoin will continue to decline and that we are on the cusp of entering a new “bearish phase”.
BDC Consulting conducted in-depth interviews with the heads of several crypto enterprises to find out about the future development of the sphere.
Where will the market turn?
The state of the crypto market is largely determined by the bitcoin price. Thus, the bitcoin price investors expect largely determines the aggregate market sentiment and emerging trends.
We asked a top managers and investors about their BTC price expectations and here’s what they say:
With the current (14 Nov 2022) BTC price at $16,788, the average drawdown is expected to be 31%, which will bring the BTC price down to ~$11,479.
How will market changes affect investors’ portfolios?
Our survey among top managers and investors showed that despite negative market expectations, no one plans to reduce their crypto asset portfolios. At the same time, 66% of them are expected to increase the number of assets in their portfolio during the next month. The remaining 33% will remain observing the market without taking any action.
The most promising areas of the current market.
DeFi, infrastructure and GameFi are expected to be the most promising areas for growth even in a bear market. At the same time, they are the safest right now, reacting minimally to the overall market decline – the decline in capitalization did not exceed 15% last month.
What’s Next?
The market continues to go through another bear market phase, set to enter a new one. The current market will remove many weak projects from the market, opening up new opportunities for founders and investors. Our recent report will help you better understand the current market situation so you can adjust your investment strategies. You can read it on our website.
Marat Gizatullin
BDC Consulting
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