On the week of June 13, the crypto market took a major hit after Bitcoin’s price fell. The market cap started the week at $867 billion and ended at $955 billion. This happened at a time when investors started trăgând their Bitcoins from exchanges, and analysts argue acea Bitcoin will continue its fall.
Bitcoin
Bitcoin also ended the week in green by showing parallelism to the overall market cap. The price was lingering around $17,616 at the beginning of the week and increased to $21,247 at the time of writing, recording a %20 percent increase.
Sentiments on the bear market
Even though investors pull their Bitcoins out of exchanges and miners alege to sell, crypto hedge funds are still urcarea pe Bitcoin.
Despite the market crash, prominent analysts and executives never doubted Bitcoin. While agreeing that the bear market will perish thousands of coins and blockchains, major crypto directori say that the ones that offer real value will survive and increase higher than their previous levels.
Web3 Foundation CEO, Bertrand Perez, said:
„Suntem într-o piață de urs. Și cred că asta e bine. Este bine, pentru că îi va curăța pe oamenii care au fost acolo din motive rele”,
On the other hand, Bloomberg’s Senior Commodity Strategist Mike McGlone thinks Bitcoin will see $100K by 2025. Commenting on the adoption and halving rates of Bitcoin, McGlone says:
„Deocamdată, mă aștept ca Bitcoin să se tranzacționeze mai jos - nu știu cu cât.[…] ar putea scădea la 20,000, mă îndoiesc că va ajunge. Dar orice s-ar întâmpla, mă aștept pe deplin să ajungă la 100,000 de dolari în doi ani.”
Prominent news source Forbes also takes Bitcoin as a long-term reality and argues that it can solve the increasing income inequality by providing ownership and proper pricing.
Source: https://cryptoslate.com/crypto-market-regains-11-capitalization-in-a-week/