Home Cryptocurrency Bitcoin Hasn’t Run Out, Data Suggests; Ether and other altcoins are down in Monday trading

Bitcoin Hasn’t Run Out, Data Suggests; Ether and other altcoins are down in Monday trading

by SuperiorInvest

In an interview on First Mover TV, CoinDesk, chief economist of decentralized protocols at software company ConsenSys, said that cryptocurrencies react to external events much like other riskier assets. “The story of the macroeconomic environment is that if it allows consumers to have a bigger budget — and the COVID environment certainly did — they’re more likely to take risks, more likely to use Web3 and try new protocols,” he said. “And if they’re compressed and they’re much more worried about paying mortgages or rents, they’re going to have less discretionary budgeting. And so that’s going to be detrimental to crypto prices in the short term.”

Source Link

Related Posts

%d bloggers like this: