Crypto Market Is Guaranteed To Rebound In Second Half of 2022 – PolySign CEO.
The last few days have been a total blood-bath for the crypto market, with top coins like Bitcoin experiencing double-digit value losses. The general consensus is that the market has been affected by the evolving dynamics of the larger financial market, which includes the S&P 500.
During an interview with CNBC, the CEO of PolySign, Jack McDonald, had the opportunity to share his thoughts regarding the current and future developments in the crypto market.
Is Bitcoin Still A Viable Hedge Against Inflation?
For some years now, cryptos like Bitcoin have been seen as great hedging options against the rampant inflation that results from the continuous printing of fiat currency by governments and the rise of interest rates. However, the sudden crash and the apparent strong co-relation of the crypto prices with the larger traditional markets have set a worrying trend upon investors.
On his part, Jack believes that the said co-relation has been strong of late, but that won’t last. At some point in the near future, crypto prices, especially Bitcoin’s, will detach from the influence of external factors. As a matter of fact, this is what was in play until recently. Whether this change is related to the influx of institutional money into the crypto space is a subject of debate. Still, the fundamental long-term story of the crypto revolution remains unchanged.
Market To Recover In The Second Half Of 2022
Asked about whether the market is in a position to mount a comeback in the coming months, Jack McDonald replied in the affirmative. The crypto market will ultimately attract more money and lead to recovery. In the second half of 2022, the coming months will set the stage for this to happen as the bearish sentiment dies down and accumulation starts.