The crypto market appears to be due for a comeback after a seven-month-long severe market sell-off, according to pundits. After BTC plummeted below $50,000 in late December, the crypto-verse was awash with predictions that the market was about to enter a crypto winter. The market has been on a haemorrhage in the months since, culminating in last week’s unprecedented sell-off, with the whole cryptocurrency market tumbling to ten-month lows. However, pundits have speculated that the crypto winter may be over, citing significant liquidations, particularly after last week’s dump, which was exacerbated by the stablecoin meltdown. Yves Lamoureux, commonly known as the “Canadian Whale,” has boldly advocated for a new “consequential bull market” in a recent post, according to Yahoo. If all goes well, the pundit, who also runs the Lamoureux & Co. macroeconomic research firm in the United States, believes the recent capitulation by Bitcoin and other cryptocurrencies would be enough to boost prices to all-time highs. “I see extreme negative sentiment from crypto holders, just as we have seen at other bottoms,” Lamoureux wrote. When Bitcoin reached nearly $70,000 seven months ago, the pundit projected that it would fall to the $20ks to make room for fresh liquidity. He did say, though, that given the rate at which the commodity was being accepted and its capped supply, Bitcoin’s price will likely continue to rise after that. After losing ...
U.S CPI Report Today Live Updates
