Youtuber and crypto analyst Ben Armstrong, who is known as BitBoy, suggested that the negativities in the crypto money markets recently increased the possibility of a new bottom in Bitcoin (BTC).
Ben Armstrong January 5th on his official social media account. in the post he sharedin recent days Digital Currency Group (DCG), Genesis and Silvergate negative developments on the market an atmosphere of strong uncertainty noted that and Bitcoin could have a “panic day” today warned about.
Analyst, with these negative news feeds of Bitcoin in the market to $15,000 band He claimed that in the scenario where the data regressed and unemployment deteriorated from the USA, these situations would strengthen the possibility of a new bottom for Bitcoin.
However, things did not turn out as the analyst expected. Both Bitcoin did not regress to $ 15,000 and unemployment data did not come negative. US unemployment data 3.5% to 3.7% It came below expectation.
Risks Not Completely Averted
However, experts said that after the successive negative events, the unemployment applications came below the expectations. completely eliminate risks He claimed he didn’t.
What Happened?
Recently, cryptocurrency exchange Gemini acquired DCG’s Genesis. 1.67 billion dollars borrowed and that money Gemini “Earn” to customers belonging he claimed to be. This claim is made by DCG. if denied about a mistake no evidence presented. DCG also recently incorporated 3.5 billion dollar asset management company will shut down HQ announced that its subsidiary Genesis 30%′of flour you quit your job had explained.
On the other hand, it is a digital asset-focused investment bank. Silvergate (SI) In its financial reports for the fourth quarter of 2022, crypto-related deposits 68% decrease and customers 8.1 billion majority of its assets to cover dollar withdrawals. to the detriment that you sell explained. Total of the debt instruments positions liquidated by the Bank 718 million dollar damage that he seen.