At present it appears that Digital currencies They are trying Bear season weather that deemed them champions throughout 2022.
Solana which closed +10% last week with Bitcoin finally managing to break through the $21,000 wall.
Ethereum also seems to have recovered, leaving the area around $1000-1200 and settling around $1600.
Then there is Ripple and Cardano on the rise, with the first trading at 49 cents and the second at 42 cents, then connecting with BNB which closed the previous week by +13.71%.
In short, the market seems to be breathing again. Or rather, the data will show this.
However, among the countless experts swarming the sector, one wanted to express himself a few days ago about the global trend of Web3 and how encryption winter You may take risks getting worsedespite a slight revival of some of the most popular cryptocurrencies.
It comes with an extension Tezos co-founder Kathleen Breitmanwho strongly stated that we will soon see many crypto companies disappear due to this global tension andOver-evaluation some of them.
It may be difficult to accept it, but its reasons are more than valid.
Tezos, Still Bearish?
Judging from the current situation, it does not appear that Tezos is experiencing its heyday.
By analyzing i Tezos prices, we may see a drop in price due to the return of the bears. The trend line has been bullish for the past few days, but on Friday it revealed itself very laborious For a market where sellers dominate and incur huge losses in a matter of hours as they reduce the price to $1.38.
Do you think that until a few days ago there was talk of a price hovering around $1.46?
until the trading volume has seen a downward trend with the value you stand at $43 million it’s a The market cap is $1.31 billion for XTZ/USD.
The question remains: Is it possible for another price drop? The answer is yes, as the bearish momentum is once again strengthening.
Who is the co-founder of Tezos?
In such a context, it is one of the founders of the stablecoin who has his say publicly.
Around Kathleen Breitmanwife of other co-founder Arthur Breitman (yes, because uninitiated Tezos was founded by a husband and wife).
Kathleen Breitman is actually the CEO of the company Dynamic Ledger Solutionswhich is the company that created The first version of Tezosa blockchain-based smart contract platform with an on-chain governance mechanism aimed at motivating and regulating inter-node exchanges.
Previously, it was Kathleen Senior Strategy Assistant for R3It is a consortium of more than 70 financial companies. So this is someone who definitely knows the industry and, having also worked with Bridgewater Associates, Accenture, and the Wall Street Journal, definitely knows his stuff.
expect it? Crypto winter is upon us again, it may never have ended!
Kathleen Breitman decided to aggravate Crypto Winter
Despite some statements from the recent improvement in the performance of some cryptocurrencies, another crisis cannot be avoided.
This is Kathleen Breitman’s line of thinking.
On the other hand, if we look at the general picture of the situation, we find ourselves in one season So bearish Many companies have already made headlines Bankruptcies and huge losses.
We remember the Terra blockchain or Three Arrows, but not only! Because other strongly supported facts like Celsius also perished during the so called crypto winter.
Not everyone was saved, and for those who seemed to be able to survive, it looked like the worst might be to come.
The Fed and Interest Rates: Can They Really Make a Difference?
We all know how the Fed has done nothing but raise interest rates this year and may continue next year!
However, even a “pause” in interest rate hikes may not be enough for the crypto world.
Yes, because in this landscape of extremely diverse cryptocurrencies, there is no longer room for cryptocurrencies and blockchains of dubious use: Only the most beneficial and sustainable projects will be able to survive the cryptocurrency winter.
If the Fed does indeed decide to suspend a rate hike, we can expect an improvement from cryptocurrencies, but only the most useful and sustainable.
Venture Capital: Crypto Companies Are Overvalued
Another reason the Tezos co-founder said what he described was the amount of (sometimes excessive) money circulating in Web3.
we will investor influxLowest interest rates before the cryptocurrency winter, granted artificial intelligence Adventurer capitalist To influence an exaggerated amount of crypto companies very positively.
Now that the landscape has become more complex, this Positive “over-evaluation”. And the idea of making easy money is starting to fade. Increased probability of collapse of blockchain-based companies that do not have sufficient viable and sustainable business models.
All that remains is to watch and see if Kathleen Breitman is right!
Also read: Why does Uniswap keep losing users? The latest funding round of $165 million is not enough