Bitcoin Cracks $39.5k, ETH Back to Pre-FTX levels, DePIN Tokens are Booming…What Could Go Wrong?

TL;DR

• In our bi-weekly(ish) examine in with Bitcoin and the broader crypto market issues appear to be good proper now, nevertheless it may flip round once more rapidly.

• After 12 straight months of painful facet methods buying and selling, we’re lastly seeing some constant positive factors!

• However many analysts are nonetheless anticipating us to enter a recession. If that occurs, chances are high it may imply ache for the crypto markets (once more) within the quick time period.

Full Story

Alright, time for our bi-weekly(ish) examine in with Bitcoin and the broader crypto market…

So the place’re we at?

Effectively, after 12 straight months of painful facet methods buying and selling, we’re lastly seeing some constant positive factors!

• Bitcoin cracked and held $39.5k over the weekend

• Ethereum broke $2,160 (the very best it has been since Could 2022)

• Tokens within the DeFi and Tradition & Leisure indexes gained 39%-42% this previous month

• The hype round decentralized bodily infrastructure (aka DePIN) tokens is taking impact! Helium (the decentralized cell community) gained 110% in November

• Web3 Ventures simply commenced buying and selling on US OTC market below image “WEBVF.” Web3 funding companies going public? Now that provides bull market vibes.

What may go incorrect?

Effectively, a number of issues – like…

• We’re nonetheless not out of the woods RE: inflation.

  If there’s even the slight chance that inflation is not slowing quick sufficient, then BOOM! The Federal Reserve does not appear to be afraid of mountaineering rates of interest.

  Which may result in crypto promote offs.

• The market has purchased in to the rumor {that a} spot Bitcoin ETF will launch in January.

  However nothing is about in stone. If an ETF is not authorised, we may effectively see a giant ol’ worth dump.

• Issues really feel good now, however many analysts are nonetheless anticipating us to enter a recession.

  If that occurs, chances are high it may imply ache for the crypto markets within the quick time period.

Alright, that is all we received!

Now you already know 🙂