On the heels of economic data from China indicating that the second-largest economy on the planet is slowing faster than expected, the European Union (EU) projects 0.3% growth among the bloc’s countries in 2023, when the recession should reach At. On the doorstep of the Old Continent, the cryptocurrency market on Saturday (12) benefited from external pessimism amid its own problems. The collapse of the week, triggered by the liquidity crisis on cryptocurrency exchange FTX, could have some kind of negative impact. .
Bitcoin (BTC) was trading at $16,800 (-2.8%) and accounted for 38.1% market dominance, which was capped at $850 billion (-2.7%). The contraction was felt across the vast majority of major cryptocurrencies by market capitalization, with the exception of stablecoins. ETH was priced at $1,264 (-1.63%), BNB was priced at $282 (-3.9%), XRP was valued at $0.37 (-4.7%), ADA was long at $0.34 (-5%) and it was MATIC is at the level of $0.95 (-10.7%).
Despite the frustrating scenario, several tokens advanced, including GMX, trading at $39.41 (+14.9%), XCN, created at $0.050 (+7%), DOGE, trading at $0.092. (+4.1%), VGX, trading at $0.31 (+23%), and BICO at $0.34 (+12.6%).
Speaking at the Indonesia Fintech Summit 2022, the CEO and founder of cryptocurrency exchange Binance said that the FTX crisis has undermined the confidence of many investors and added that regulators are expected to be more demanding in the future.
“I think basically we were a few years behind schedule. Regulators are going to legitimately scrutinize this industry a lot more than that, which is probably a good thing, to be honest.”
But as the flame of trouble continues to burn and investors become more suspicious, any crack could look like an implosion. This was noted by the famous cryptocurrency trader Capo, who recently made a “doomsday” prediction of a bleak future for Bitcoin.
On Twitter, the strategist He said Who heard rumors about cryptocurrency exchange Huobi, which was followed by a large volume of withdrawals that negatively affected the price of HT, the exchange token, which was priced at $5.31 (-10.9%).
Capo also made a pessimistic prediction for MATIC, the Ethereum Polygon network scaling solver token, which until a few days ago sparked euphoria among traders due to the potential for gains of up to 200%. For Capo, the story is different, as the strategist seems to see MATIC losing about 70% of its current price, even down to $0.29.
$matic pic.twitter.com/iNXQ3jZycZ
– il Capo Of Crypto (CryptoCapo_) November 12, 2022
In another post, he too he did A similar prediction is for DOGE, whose target will be $0.079. Coincidentally or not, blockchain monitoring platform Whale Alert has tracked DOGE whales “hiding” $413 million in memecoin tokens, the beloved of billionaire Elon Musk, as reported by Cointelegraph Brasil.
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