any completely free hookup sites free hookup forums free hookup online dating free hookup only apps are there really any free hookup sites

Crypto bubble spotted by IMF


Three regulator officials believe the inflated market valuation of digital assets may be indicated by their massive sell-off caused by the emergence of a new strain of coronavirus. International Monetary Fund experts Tobias Adrian, Dong He and Aditya Narain warned of a possible crypto bubble in the digital asset market and called for coordinated, consistent and comprehensive regulation of cryptocurrencies.

High market valuation of the crypto-assets could point to a crypto bubble

The regulator’s staff noted that the market capitalization of the crypto market of about $2.5 trillion points to the significant economic value of blockchain technology. However, such a high market valuation of crypto-assets could also point to a bubble, experts said. For the sake of argument, they recalled the massive sell-offs following the emergence of the omicron coronavirus strain.

On December 4, the price of bitcoin crashed to $42 thousand for the first time since late September. The asset fell in price by more than 20% within a day. As a result of the sharp drop in quotations, traders lost over $2.5 billion because of the mass liquidation of margin positions. On December 10, bitcoin is trading at $49,000 and the total capitalization of the cryptocurrency market is $2.4 trillion.

Previously, CEO of Galaxy Digital Mike Novogratz said that the price of bitcoin in the current correction will not fall below $40 thousand. According to Novogratz, the level of $42 thousand is the lower level of correctional decline.

Rating: 5.0/5. From 1 vote.
Please wait...

Leave A Reply

Your email address will not be published.