Monday, May 16, 2022
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • en English
    ar Arabicbg Bulgarianzh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
Crypto Miracles
Advertisement
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
  • Home
  • Crypto News
    • Bitcoin
    • Ethereum
    • Dogecoin
    • Litecoin
    • Ripple
    • Altcoin
    • Press Release
  • Blockchain
  • People
    • Opinion
    • Interview
  • Business
  • Technology
  • Market
  • Analysis
  • Live Price
  • Regulation
  • Guide
No Result
View All Result
Crypto Miracles
No Result
View All Result
Home Interview

The crypto market will recover along with stocks

May 13, 2022
in Interview
Reading Time: 2 mins read
0
The crypto market will recover along with stocks
Share on FacebookShare on TwitterPinShare on Reddit


The cryptocurrency has struggled in recent weeks, with investors losing a huge chunk of their money during that period.

The cryptocurrency market has shed nearly $300 billion over the past week. The total crypto market cap dropped from $1.5 trillion last week to currently stands above $1.2 trillion.

Sam Bankman-Fried, the CEO of FTX crypto exchange, is confident that the market is not going to zero. In a recent interview with Fortune, Bankman-Fried said the cryptocurrency market would recover along with stocks. 

The FTX CEO saw his net worth decline by nearly 50% in recent weeks, and he is now worth around $11 billion, according to Bloomberg’s Billionaires Index. He said;

“Crypto markets have mostly stabilized, modulo whatever happens in traditional markets. So if stocks recover, I would expect similar in crypto. If stocks keep crashing, so might BTC.”

Several cryptocurrency experts have lamented in recent weeks that the crypto market’s performance mirrors that of the United States tech stocks. With the NASDAQ 100 stocks currently underperforming, the crypto market has been in a bearish trend too.

According to The New York Times, the 30-day average of the Bitcoin-Nasdaq score has approached an exact one-to-one correlation since January 1 and reached 0.82 earlier this week. 

The stock and crypto markets have been in sync in recent months, and the trend could continue for a while.

The Terra crisis further affected the cryptocurrency market, with billions of dollars wiped out from the project. The Terra blockchain has officially halted, and the broader market is now on an upward trend.

At press time, Bitcoin is trading above the $30k resistance level again while Ether maintains its price above $2,000. The total cryptocurrency market is close to $1.3 trillion and could rally higher over the next few days if the recovery mode continues. 



Source link

Related articles

Unlocking Decentralized Trading for the Masses with Peter Kris, CEO of Mangata Finance

Unlocking Decentralized Trading for the Masses with Peter Kris, CEO of Mangata Finance

May 13, 2022
UST’s crisis is destructive

UST’s crisis is destructive

May 12, 2022
Share2Tweet1PinShare
Previous Post

ETH maintains its value above $2k

Next Post

European Commission Has ‘Serious Doubts’ About Markets in Crypto Assets Draft, Report Reveals – Regulation Bitcoin News

Related Posts

Unlocking Decentralized Trading for the Masses with Peter Kris, CEO of Mangata Finance

Unlocking Decentralized Trading for the Masses with Peter Kris, CEO of Mangata Finance

by
May 13, 2022
0

Today, CryptoNewsZ is in conversation with Peter Kris, the visionary behind Mangata Finance, a project that employs novel concepts...

UST’s crisis is destructive

UST’s crisis is destructive

by
May 12, 2022
0

Terra’s stablecoin has lost its peg to the dollar and is trading around 5 cents at the moment. The...

RBI’s pressure affected Coinbase’s India launch

RBI’s pressure affected Coinbase’s India launch

by
May 11, 2022
0

The Indian government has cracked down on cryptocurrency activities in recent years. Cryptocurrency exchange Coinbase has revealed that it...

AMC records a huge increase in crypto payments

AMC records a huge increase in crypto payments

by
May 10, 2022
0

AMC integrated cryptocurrency payment options a few months ago, and it is starting to gain traction. AMC Theatres CEO...

Bittrex remains self-funded, says CBO

Bittrex remains self-funded, says CBO

by
May 9, 2022
0

Bittrex was previously one of the largest crypto exchanges in the world in terms of daily trading volume. Bittrex...

Load More
Next Post
European Commission Has ‘Serious Doubts’ About Markets in Crypto Assets Draft, Report Reveals

European Commission Has ‘Serious Doubts’ About Markets in Crypto Assets Draft, Report Reveals – Regulation Bitcoin News

Crypto not having a Lehman moment and whale buying will come, Nexo co-founder says

Crypto not having a Lehman moment and whale buying will come, Nexo co-founder says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions.

16 + 12 =

Crypto Miracles

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics, and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency.

Categories

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Business
  • Dogecoin
  • Ethereum
  • Guide
  • Interview
  • Litecoin
  • Market
  • Opinion
  • Press Release
  • Regulation
  • Ripple
  • Technology
  • Uncategorized

Recent Posts

  • Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC – Markets and Prices Bitcoin News
  • Breaking: India May Soon Ban Crypto Celebrity Endorsements
  • Goldman Sachs’ Blankfein Advises Companies and Consumers to Prepare for US Recession — Says It’s a ‘Very, Very High Risk’ – Economics Bitcoin News

Newsletter

    • About Us
    • Contact Us
    • Privacy Policy
    • Terms and Conditions

    cryptomiracles.com © 2021 All rights reserved.

    No Result
    View All Result
    • Home
    • Crypto News
      • Bitcoin
      • Ethereum
      • Dogecoin
      • Litecoin
      • Ripple
      • Altcoin
      • Press Release
    • Blockchain
    • People
      • Opinion
      • Interview
    • Business
    • Technology
    • Market
    • Analysis
    • Live Price
    • Regulation
    • Guide

    cryptomiracles.com © 2021 All rights reserved.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.