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Investing.com – Volatility following the approval of new exchange-traded funds (ETFs) in the United States and expectations of a halving have led to increased speculation in the cryptocurrency market. This has also boosted other markets alongside the main cryptocurrency, but in a more general way.
These factors “are the tide that lifts all boats, and there is no doubt about that,” says Julius Baer, who asks whether the increase in trading would be supported by a solid foundation, mentioning that “unfortunately, a good part of it …”The trading volume is generated by memecoins whose upside potential was purely parasitic in nature.”
Julius Baer digital asset analyst Manuel Villegas points out that Bitcoin's gains are spreading to “larger alternatives and moving into the riskier and less solid plays.”
The expert laments that “as long as US dollar liquidity continues to increase, investors will continue to eye the rest of the blockchain ecosystem without distinguishing between what has value and what does not.”
(This story was translated from Portuguese)
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