It’s been over a month since the crypto market hasn’t seen big plunges or surges in overall capitalization. The valuation has been stuck at a valuation of $210 billion with a few spikes here and there. The word around is that the crypto market is finally reaching stability with minor drops or surges in valuations. For example, Bitcoin, the premium currency hasn’t shown much deviation from the valuation of $6,400. Ethereum also hasn’t dropped or surged significantly from $200.
The opinion however is still mixed whether the market will finally be able to stabilize itself, is in for a fall or will reach $50,000. The market analyst and CNBC host Ran Neu Ner believed previously that the market would reach $50,000. Mati Greenspan, the analyst at eToro thought that the market is pleasantly stable. Talking to BlockPublisher he said,
It’s been pleasantly stable these last few months.
The other side on the opinions table, is Thomas Power who predicted that there might me a time very soon when the market would face huge plunges in valuation. His predictions stated that the market is in for a fall, with drop in valuations up to 50%, this market doesn’t only include crypto, but equities, properties, stocks and other commodities too. While others are vouching for the stability, he still is skeptical about investments in this space and thinks that it still can’t be called a store of money yet.
Expecting 50% fall across the board and shorting of all of it.
Although he thinks that the currencies will rise after the inevitable fall which would hit crypto in the coming year. The SEC would give brand confidence to crypto once it has hit the $3,000 mark. Talking to BlockPublisher he said,
Falling to BTC $3000 $ETH $100 then rising during the crash of 2020-2022.
He may have his predictions but still most analysts disagree with his notion because of the increasing liquidity, decreasing volatility and a wave of stablecoins sliding in the market with good volumes.