We think the declines in crypto are now over: Grayscale report
Grayscale has released a report on what is happening in the cryptocurrency world and its expectations. In the report, it was written that if the USA does not enter the recession, there is an expectation that there will be an increase in cryptocurrencies again towards the end of the year, but on the contrary, it is thought that the declines will not deepen much. The report also opened a separate bracket on Ether sales of large companies.
Grayscale, which has multiple products in both Bitcoin and Ether ETFs, has released a new crypto report called “Summer storms.” The report, which stated that the summer months were difficult for the crypto money markets, especially mentioned the declines in August.
'Ether couldn't stand it, Solana remained strong'
In this part of the report, it was emphasized that the U.S. employment figures in July were weaker than expected and the unemployment rate increased similarly to past recessions. It was written that all these factors also seriously affected cryptocurrencies, and Ether came to the fore in this sense, but Bitcoin and Solana were based on:
“This situation led to poor performance in assets such as stocks; It led to strength in traditional safe-haven assets such as US Treasury bonds, Japanese yen and Swiss francs. Bitcoin and Ether also lost value in the process, but while Bitcoin performed relatively better, Ether performed worse than both other cryptocurrencies and many traditional market assets. Solana, in particular, stood more resilient among big cryptocurrencies”
'Bitcoin may peak again'
Analysts claimed that Bitcoin could achieve new heights towards the end of the year if the US overcame the recession barrier and provides a "soft landing":
“If the opposite happens, that is, even if the US enters a recession, we think that the declines will still be limited. We believe that the sound demand for Bitcoin ETFs here will also be effective.
