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Edited by Jafar224 at 26-12-2023 08:55 AM
When you upgrade software, everyone usually agrees. But in this particular case, there's a chorus of opposition. We find ourselves in the "cryptocurrency civil war."
He explained that some traders are concerned that the Bitcoin and Bitcoin Cash markets will slow down or become "even more chaotic" after a hard fork. Kelly explained,
So people started selling, triggering a market pause. Everyone is very concerned, and that's what's happening in the market today— the entire market is falling.
However, Kelly predicts that this will be a "very short-term" activity. He continued,
I think this might be an opportunity. In fact, today (Wednesday), we bought some through the fund as well.
However, Kelly also issued a warning to interested buyers: "If you don't understand what a hard fork is, don't jump into the pool immediately; it's like a bottomless pit."
Meltem Demirors, Chief Strategy Officer at cryptocurrency investment and research company CoinShares, said that many events continue to "pile up," leading some funds to no longer consider investing.
She explained that the "monthly average trading volume for the vast majority of assets is very thin" and continued to elaborate,
I think, except for Bitcoin, all assets are in a liquidity crisis. Overall, the prices of assets have fallen by 75% or more, and in some cases, up to 95%.
Demirors warned, "We are now in a state of project funding shortage." She predicted,
They have to lay off employees to cut costs, and you will see many companies merging, with some assets inevitably being marked as "worthless." |
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Post time 10-12-2023 07:16:43