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Bitcoin (BTC) sustains gains; Crypto market has “holiday” along with USA

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For Tasso Lago, manager of private cryptocurrency funds and founder of Financial Move, the trend is still down (Image: Freepik)

O crypto market maintains the gains of the previous day this Thursday (24). O Bitcoin (BTC) rises slightly by 1% to $16,580; Ether (ETH) rises by 2.58% and finally touches the $1,200 milestone.

Cryptoassets showed slight increases yesterday due to the minutes of the Federal Reserve, Central Bank of the United States, which came with a more “dovish” position, that is, considering reducing the pace of interest rate increases in the country.

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The cryptocurrency market cap rises by almost 1%, and is priced at $834.78.

For Tasso Lago, manager of private funds in cryptocurrencies and founder of Financial Move, today’s rise does not necessarily represent a certainty, on the contrary, for him the trend is still down.

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The manager says that after the FTX crisis, the market is still very uncertain, and we may see further declines in the future.

About FTX, Lago comments: “There is still a question mark about what will be done. There is also the possibility that some fund, or a company, will buy the brokerage and save part of the debt, and there is the possibility of going down to zero and everything going bankrupt”, he says.

As he explains, the last scenario could trigger a larger chain movement than what has been happening. But for him, the trend is still bearish.

“What has to be done is for investors to buy for the long term and wait for market resolution, which has already breathed a sigh of relief with the Fed signaling that it may slow down the increase in interest rates. But I understand that the trend is still down”, he concludes.

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Source: Moneytimes

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