Cryptocurrencies: what do analysts think?
This behavior shows that the lack of interest in risk assets persists, caused by the depressing financial news in the markets. Since the US Federal Reserve (Fed) raised interest rates to combat the very high inflation throughout the year, the appetite of investors in cryptocurrencies has decreased, hand in hand with falls in world stock markets, especially Wall Street. , they assure in Bolsamanía.
However, many experts point out that the ‘cryptos’ have sent signs of resistance at a time when the indices of the New York Stock Exchange are behaving especially badly. However, they also indicate that the behavior exhibited by digital currencies is classic in bear markets and they do not expect significant upward movements.
What is the Bitcoin Lightning Network?
But while this news gives reason to the pessimists, the fundamentals of bitcoin are growing day by day, as the number of bitcoins in the lightning net continues to set all-time highs. There are almost 4,700 Bitcoin on the Lightning Network. Additionally, MicroStrategy announced Tuesday that it is working on solutions to bring millions of people onto the Lightning Network.
The Lightning Network is a scalability solution built on top of bitcoin, allowing users to quickly send and receive BTC with virtually no fees, “so if this is adopted globally, ‘crypto’ will have strong utility with a payment network,” says Sotiriou.
In the market, however, they are on alert due to the proximity of a possible “black swan” in September, which could take prices to the lowest in the year.
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Source: Ambito
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