CoinGecko Co-Founder Projects Bearish Price For Crypto: “Challenging” but many are ready-cash-heavy

According to the co-founder of a renowned crypto price-tracking company, the crypto bear market may be just getting started.

According to Bobby Ong, Crypto is in the midst of a macro-driven bear market, with Russia’s invasion of Ukraine and supply chain concerns causing ongoing inflation.

Many are cash-heavy

He claims that the Federal Reserve in the United States has “no choice” but to raise interest rates in order to combat inflation and that growth stocks are suffering as a result.

“With institutional participation, crypto has become extensively associated with TradFi [traditional finance] and is now considered a technology stock/venture asset, therefore it’s also taking a blow.”

In the previous six months, many publicly traded tech stocks have lost 75% of their market capitalization.

Regrettably, we are only at the start of the Fed’s rate-hiking cycle. To keep inflation under control, the Fed will have to gradually raise interest rates over the next few quarters, and more pain is on the way. We’ve warned our crew that the next 12 to 18 months are going to be difficult.”

Many of the investors Ong knows are currently “cash-heavy.”

CoinGecko, according to Ong, is ready for a long bear market.

“We’re already in a bear market, and it’s not going to be brief.” We must be prepared for difficult times, be prudent with our expenditures, concentrate on income optimization, and develop items that the community desires. 

Now it’s time to get your hands dirty and start planning for the next cycle.”

Deliverables of CoinGecko?

CoinGecko, a cryptocurrency data aggregator that records price, volume, social, and development analytics, was launched by Bobby Ong and TM Lee in 2014.

 In order to produce bitcoin research, the company cooperated with Western University in Canada and Humboldt University in Berlin.

CoinGecko investigates the digital currency sector thoroughly.

In addition to price, volume, and market capitalization, CoinGecko tracks community growth, open-source code development, major events, and on-chain analytics. 

Because CoinGecko tracks data rather than keeping assets for you, security isn’t a concern. 

All personal information is secured during transmission, and the third-party payment providers Stripe and Coinbase Commerce provide additional security for subscription payments.

ALSO READ: G7 Finance Leaders advocated for fast and Comprehensive Regulations for crypto

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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