.coinbase says the outlook for the cryptocurrency market has been reinforced to the upside following recent turmoil in the U.S. banking sector. By willcanny99
Jenny will discuss developing crypto-linked investment products in a bear market, the mood among her clients and her lon...The medium to long term outlook for the cryptocurrency market has been “reinforced to the upside” following recent turmoil in the U.S. banking industry, Coinbase said in a report Friday.
“Cryptocurrencies have exhibited some resilience, in part due to technical reasons,” but also because more people “now appreciate the fundamental value proposition of having an alternative to the points of failure inherent in the traditional financial system,” wrote David Duong, head of institutional research.
The Federal Reserve’s policy of raising rates has led to falling prices of Treasurys, which lowered the value of banks’ portfolios. The ensuing collapse of
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