The best days are ahead, since the reduction in the share of borrowed funds in cryptocurrency is coming to an end - JPMorgan
JPMorgan strategist predicts that the worst in the bear market can be behind, as stronger cryptocurrency companies have come to the revenue of the industry in the midst of a large -scale Delateeneriga.
According to the analyst at JPMorgan, the historical decrease in the debt load in the cryptocurrency market may come to an end, which may mean completing the worst stage of the bear market. In a note published on Wednesday, the JPMorgan strategist Nikolai Panigirtzoglu noted the increased readiness of companies to take the company and healthy pace of financing of venture capital in May and June as the basis for his optimism. He said key indicators confirm this assessment: "Indicators such as our metric of a pure leftist, they say that the process of reducing debt load is already in full swing." Delveriding of large cryptophirs, where their assets were sold voluntarily, in a hurry or through liquidation, began mainly in May, when the Terra ecosystem collapsed and destroyed tens of billions of dollars. Since then, Blockfi and Celsius cryptocreators, as well as the investment company Three Arrows Capital have encountered their own problems. Panigirtzoglu added that the seriousness of Deleuteriga of some cryptoforms can be so serious that "it suggests that the tremors from the fall of the cryptorrhoids continue to surrender." However, Panigirtzoglu claims that Deleveride can come to an end, since cryptocurrency organizations are entering into the fight for saving problem companies, saying: "The fact that cryptocurrency organizations with stronger balances are currently entering into a struggle helps to restrain the spread of infection." Against the background of disasters that have comprehended several blockchain companies such as Three Arrows Capital and Celsius, the FTX exchange of Sam Bankman-Frida, according to reports, positions itself to expand its influence in the industry. According to the Cointelegraph on June 30, there are rumors that the FTX offers to buy a crypto-credit of Blockfi for $ 25 million. However, the general director of Blockfi Zach Prince denied these rumors on his tweet on Thursday. Panigirtzoglu also considers a good sign of high rates of venture financing in crypto space. According to JPMorgan, in May and June, the volume of venture financing of crypto companies amounted to about $ 5 billion. Dove Metrics, which tracks the funding using Airtable data, estimates the volume of cryptocurrencies above - $ 8.6 billion for the same period. This amount of financing decreased by $ 2.2 billion compared to March and April, but grew by $ 3.4 billion compared to May and June 2021. Similar: 'I can't stop, I can't stop' - Bitcoin Holders buy a fall at $ 20K BTC The last forecasts of JPMorgan should inhale fresh air into the hearts of crypto -investors of 2022, which survived what Glassnode called the worst bear market in the history of cryptocurrency trade. Since November 2021, when the total volume of the cryptocurrency market exceeded $ 3 trillion, it fell below $ 1 trillion to $ 934 billion, according to Coingecko.