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The bitcoin (BTC) rally over the past year may be coming to an end, according to MRB Partners, a New York-based investment research firm.
In a May 25 report titled “Is Crypto Fever Broken?” Analysts cite growing concerns about the environmental impact of cryptocurrencies, possible regulatory risks, negative technical trends, and a future reduction in monetary stimulus as among the many reasons bitcoin could have a tough time in. come.
Easy money has helped fuel the crypto bubble, and a slow slowdown in this trend globally will ultimately turn into a headwind for speculative digital asset, MRB wrote.
The price of bitcoin has almost doubled over the past year and has increased by around 30% since the start of the year. The world’s largest cryptocurrency by market value experienced a period of volatility in May, which appears to level off in the near term. However, some analysts expect a limited rise in bitcoin despite the possibility of a brief rebound.
But all may not be lost for the crypto markets, researchers say.
It remains entirely possible that these assets could become a traditional investment vehicle, wrote MRB. We believe this process will be a very long way to go with more boom / bust phases along the way.
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