Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
De acuerdo con Novogratz, en la medida en la que las empresas dejen de apalancarse en Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. There will be more supply in the market, and this could lead to a drop in the price of the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency.
- Novogratz believes that Bitcoin will drop further, but will not reach USD $13,000.
- He argues that what happened to Celsius, Three Arrows y BlockFi took more BTC to the market an area or arena, online or offline, in which commercial dealings are conducted. .
- When new capital comes in and the narrative changes, the price of Bitcoin will rise.
Galaxy Digital CEO Mike Novogratz noted that amid the uncertainty present in the crypto market, the price of Bitcoin could face a further drop as companies in the sector begin to stop leveraging the digital currency.
According to Novogratz, Bitcoin could fall further in the coming weeks
This is what Novogratz said in a recent interview for the show Squawk Box broadcasted on the channel CNBC, there investor indicated that the price of Bitcoin could fall in the coming weeks to new yearly lows, but he does not think it will fall to the level of about USD $13,000 per unit.
“This is a story as old as time, and when the tide went out, what we saw was lots and lots of excessive leverage money that a trader borrows from a brokerage, enabling them to gain far greater exposure to a position than what their capital allows. by crypto-centric companies, ironically not Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. companies. These were companies like Celsius, Three Arrows and BlockFi, which had incredible amounts of leverage.”
“Now we’ve seen a lot of these [companies] basically file for bankruptcy, and they’re having this massive deleveraging. I think most of that deleveraging is outside the system.”
“Can we go lower? Of course, we could. It feels like we’re 90% through that deleveraging. The problem, of course, is that, to go much higher, you need the narrative to change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. and new capital capital is most commonly defined as the large sum of money you would use to invest. to come in.”
“Can we go lower? Of course we could. It feels that we’re 90% through that deleveraging,” says @novogratz on#crypto. “The problem is for you to go much higher, you need the narrative to go much higher and you need new capital to come in.” pic.twitter.com/aoWFcorWhX
— Squawk Box (@SquawkCNBC) July 7, 2022
Crypto winter continues its course
The reading presented by Novogratz adds to the many others put forward by various analysts and investors who follow the market, which are torn between positive and negative outlooks for the leading digital currency.
Those who are positive about this period argue that Bitcoin has deflationary properties that guarantee its appreciation in the medium/long term. Under this narrative are enthusiasts such as Nayib Bukele, Anthony Scaramucci, Michael Saylor and many others, who invite us to think of cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. as a long-term investment, even going so far as to label it as the new “digital oro”.
Contrary to the latter, the market does not seem to be showing positive indicators for Bitcoin in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term, as conditions do not seem to be ripe to assume that the crypto winter has ended. As of press time, the digital currency currency is a medium of exchange that defines value. is trading at around USD $21,808 per unit, which is very similar to yesterday at this time.
- Report details that gold as an investment fared 40% better than Bitcoin so far in 2022
- Stoeferle: “Bitcoin has stolen the show from gold”, but “they are brothers in spirit”.
- Bloomberg analyst believes Bitcoin will recover in the second half of the year
Source: Daily Mail , CNBC
Version by Angel Di Matteo / DiarioBitcoin
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