Bitcoin will find its footing in the short term, says Grayscale CEO

2022-5-27 09:29

Bitcoin has lost more than 50% of its value since hitting an all-time high of $69,000 in November 2021.

The cryptocurrency market has been underperforming in recent months. Since hitting an all-time high of $69k in November 2021, Bitcoin has lost more than 50% of its value.

Currently, Bitcoin is trading at around $28k per coin, down by more than 3% over the last 24 hours. 

However, despite Bitcoin’s ongoing price struggle, some market experts believe it will still recover. 

Michael Sonnenshein, the CEO of Grayscale Investments, told CoinDesk TV in a recent interview that he believes Bitcoin will find its footing in the near term. He said;

“I think in the near term, we [crypto] will find our footing. I think that markets will continue to find their footing.”

The collapse of the Terra blockchain and its UST stablecoin has been the major topic of discussion within the cryptocurrency space and beyond over the past few weeks.

Sonnenshein pointed out that the collapse of UST, which was one of the leading stablecoins in the market, meant that all stablecoins remain a concern in the ecosystem even as they remain the backbone of crypto markets. He said;

“Investors are focusing on items like stablecoin governance [and] supply collateral, and over time ensuring that the stablecoins they are involved with are in fact functioning the way they’re designed to do so.”

Grayscale is one of the largest players in the cryptocurrency space and currently has more than $25 billion in assets under management.

The company allows institutional investors to gain access to cryptocurrencies and invest in assets such as Bitcoin and Ether.

Grayscale’s novel product, the Grayscale Bitcoin Trust (GBTC), remains very popular amongst institutional investors. Grayscale is working to turn the GBTC into a Bitcoin exchange-traded fund (ETF).

The company is hoping the United States Securities and Exchange Commission (SEC) approves the conversion of the GBTC into a Bitcoin ETF. However, the SEC has rejected numerous spot Bitcoin ETF proposals over the past few years.

The post Bitcoin will find its footing in the short term, says Grayscale CEO appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66578.43 (-0.12%)
Объем 24H $20.568b
Изменеия 24h: -0.96 %, 7d: 9.52 %
Cегодня L: $66031.14 - H: $66727.79
Капитализация $1311.64b Rank 1
Цена в час новости $ 28990.85 (129.65%)

bitcoin term says short ceo grayscale find

bitcoin term → Результатов: 126


Cardano (ADA) Founder: Crypto Prices Could Take 10 Years to Recover, But Industry Will Mature

Cardano (ADA), Cryptocurrency–Charles Hoskinson, a long-time cryptocurrency expert and founder of Cardano (ADA) has an interesting outlook on the marketplace for cryptocurrency. While the CEO of IOHK doesn’t see a return to 2017’s bullish prices at any point in the near term, predicting it may take a decade or longer for Bitcoin and the like […] The post Cardano (ADA) Founder: Crypto Prices Could Take 10 Years to Recover, But Industry Will Mature appeared first on Ethereum World News.

2019-1-25 23:22


Darknet Bitcoin (BTC) Transactions Still Soaring

While the crashes of 2018 had many turning and running away from the cryptocurrency scene, Bitcoin still remains a popular means of payment for darknet surfers. The term darknet refers to the parts of the internet that are intentionally hidden away from public view so that users may participate in taboo, or possibly illegal actions, […] The post Darknet Bitcoin (BTC) Transactions Still Soaring appeared first on ZyCrypto.

2019-1-24 11:34


Фото:

Bitcoin Price Analysis: Bulls Too Confident, Too Soon

After the sharp decline for Bitcoin price yesterday retesting the low $3,500s we take a closer look at whats going on with the market. Bitcoin Price: 4-Hour Bitcoin Chart Bitcoin price has failed to regain the critical $3750 point of control so far this week and is still consolidating under it after being rejected by the $4k handle and scuppering the short term hopes of an inverse head and shoulders bottom.

2019-1-16 17:00


Фото:

Hyperledger Introduces Fabric 1.4 LTS and Takes another Step towards its Fabric Networks

Hyperledger announced it was introducing the first long term release of its Fabrik platform called Fabrik 1. 4 LTS. With this move, the project is one step closer to fully establishing its Hyperledger Fabric network Hyperledger is accelerating its blockchain Fabrik integration by enhancing its blockchain-based technology platform with its latest release called Fabric 1.

2019-1-13 02:00


Tron (TRX)’s Price at Its 200-Day MA as niTROn Event Approaches

Recently Tron’s price crossed and spiked nearly 50% above its 200-day moving average in a strong bullish move. TRX was the only major cryptocurrency to be trading above this long term trend indicator, but with the market taking a bearish turn over the last few days, TRX’s price has now retraced and is resting just above […] Tron (TRX)’s Price at Its 200-Day MA as niTROn Event Approaches was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-1-12 23:23