As the price of Bitcoin (BTC) flirts back at $24,000, the crypto community has allowed itself some optimism. But this is not the case for the International Monetary Fund (IMF), which is issuing a warning about cryptocurrency prices.
According to the International Monetary Fund, cryptocurrency prices could drop even more
This pessimistic view was expressed by Tobias Adrian, head of money and capital markets at the International Monetary Fund. In an interview with our colleagues from Yahoo Finance, he explained:
“We may see new sales, For both crypto assets and risky asset marketslike stocks.»
The IMF builds this analysis on the implications of the LUNA case. The collapse of the project caused a tidal wave in the ecosystem, causing the collapse of other major platforms. And it could go on, according to Tobias Adrian:
“There may be new failures when it comes to ‘coin offers’ – Especially among algorithmic stablecoinswhich are damaged the most, can collapse.»
The period is already complicated for this type of cryptocurrency. USDD, the algorithmic stablecoin of Tron, only recently managed to regain parity with the dollar. All stablecoins have been particularly noted by regulators in recent months.
👉 Going Ahead – Stablecoin, All About This Type of Cryptocurrency
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Conclusion without surprise from the IMF: We should continue to regulate the cryptocurrency markets more. However, the organization acknowledges that the market is too broad to be approached on a case-by-case basis. It therefore welcomes initiatives that close access points:
“to organize [cryptomonnaies] By itself it will be difficult, but the organization of access points Like stock exchanges and wallet providers […]It’s something very tangible and doable.»
The IMF also notes that the cryptocurrency sector is poorly enough correlated with “classical” finance. So that there is no risk of infection.
The drainage that the wind in its sails ⭐
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Bitcoin raises its head (slightly)
If we look at the market as a whole, we see that the recovery in prices is rather weak. Bitcoin (BTC) price seems to be going through a tough time Restoration of the psychological threshold of $ 25,000 :
Bitcoin (BTC) reaches $25,000
Anyway, the past few months have put the spotlight on stablecoins. These cryptocurrencies are of particular interest to regulators and institutions Because they have a foothold in traditional finance. Are we therefore witnessing a necessary merger or a new wave of restrictions? We will say the next months.
👉 Read Also – Stablecoins: USDC About to Overtake Tether’s USDT?
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Source: Yahoo Finance – Chart: TradingView, BTC / USDT
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A journalist at Cryptoast, I fell into the destiny of cryptocurrencies a few years ago. I am passionate about the innovative technologies that stem from blockchain and love finding the most fragile information to share with you.
Navy Debelloir
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