Bitcoin Report from Bank of America! Will the Bear Market Continue?

First Bitcoin (BTC) including all cryptocurrencies After the enormous rise it experienced in 2021, it could not continue this rise in 2022 and experienced sharp declines.

With the effect of the bear market in 2022, volatility in cryptocurrencies increased.

Crypto US banking giant researching the bear market trends of its investors Bank of America (BoF), a type of cryptocurrency pegged to another asset, such as US dollars or gold to stablecoins He said he passed.

BoF, investors’ uncertainty about whether the bear market is over, and crypto- He stated that he switched to stablecoins due to the high volatility in currencies.

led by Alkesh Shah BoF after risk assets, including cryptocurrencies, started to recover from June lows FEDHe said that the hawkish stance and the possibility of higher interest rates to continue for longer are not fully priced in the markets.

“All risk assets, including cryptocurrencies, are likely experiencing a classic bear market rebound after a significant sell-off.”

Cryptocurrency Analysts say that the buying momentum is waning and investors are returning to stablecoins. bear market rally thinks he’s alive.

“Investors are uncertain whether this is a short-term recovery during a general downturn, and whether slower-than-expected growth, especially next year, will lead to further weakness.

This causes them to defensively switch to stablecoins that they see as less risky.”