The decline in the cryptomarket, which wiped over $500 billion. in the last month, it's yet to start, Goldman Sachs analysts say.
"Most cripples will not survive and will depreciate to $0.00 because they will be replaced by a small set but significantly better than their competitors," says Steve Strongin, Head of Global Investment Research at Goldman Sachs. He added that the prices observed in recent months indicate the presence of a bubble.
The high correlation between cryptocells is also very worrying. According to Steve Strongin, the fact that the collapse of a single currency leads the entire crypto market down means that the price is far from moving the rational behavior of the ordinary investor.
Most cripples are trading with similar declines, mainly because of rumors of large regulations, delays in transactions and more expensive spending on them.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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