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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
Aug 16, 2022
Due to intense economic pressure and the federal reserve
According to a Fidelity Investments executive, dollar-pegged crypto assets may boost the Bitcoin (BTC) adoption rate.
In a recent interview with Crypto Banter on his YouTube channel, Jurrien Timmer, director of the global macro at Fidelity, said that stablecoins will serve as a catalyst for the increased acceptance of cryptocurrencies in the future.
Jurrien Timmer claimed that soon, a regularized stablecoin will provide investors a safe harbor since it will entice both established large investors and new small- to medium-sized investors to explore the market.
“If stablecoins are regulated, proven safe, and the area is legitimized, then I think maybe investors will have greater trust in the network effect and the adoption curve of Bitcoin, which has followed a variety of historical trends whether it’s internet usage or mobile phones”
In his opinion, more investors may begin to feel confident as the promise of this expanding adoption curve can truly be realized as the space gets legitimacy and scale.
However, the Technical models and charts, according to Timmer, demonstrate how significantly the most recent crypto winter affected the markets. He advises investors to feel secure before considering getting back into the market.
He also explained why he is cautious about the impending crypto winter, claiming that all models are already underperforming as a result of it and that significant financial pain is likely. As a result, since all investors must contend with market volatility, it may have an effect on both long-term and short-term investors.
While cryptocurrency traders try to determine whether the crypto winter is gone, bitcoin org
Given that the current instability will persist through the end of the year, it is critical to watch where the wave will take cryptocurrencies. However, while cryptocurrency volatility remained low at the time of writing, Bitcoin’s price dropped just under $23,000.
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