After the panic that started from the USA, the crypto money market is now Terra USD (UST) continues its decline with the panic caused. Leading cryptocurrency Bitcoin (BTC) All altcoins suffered a great earthquake while throwing a needle at $ 30,000. Well, the end of the month still does not seem close?
When Will The Fall End In BTC?
Galaxy Digital’CEO of billionaire name Michael Novogratz made an important statement on the subject. The CEO emphasized that the cryptocurrency market is currently very volatile and challenging. The CEO thinks this will continue in the next few quarters. According to the famous name, the unstable situation will continue for at least 2 more quarters. Novogratz also recently announced that Galaxy Digital made a loss of $ 111 million.
Novogratz stated the following about the cryptocurrency markets:
Cryptocurrencies are most likely in correlation with the Nasdaq right now. My instincts tell me there will be more bloodshed in the industry and it will be a very tough, volatile and difficult market. I expect this to take at least a few quarters before people realize that the bottom has been reached.”
In a recent interview, Bank of America analysts also saw Bitcoin as a risky asset and stated that a sharp decline would come soon. While the US stock markets were falling, it was seen that BTC was seriously injured and fell in previous dates. BTC is trying to hold on to $30,000.