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We know how the crypto market will recover, but when?

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$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery

The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.

According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.

This would represent a significant rebound from their current levels of around $10,000 and $200.

The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.

With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.

So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.

With institutional investors coming in, there could be more stability in the market and less volatility.

JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.

With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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BlockFI the latest crypto collapse

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The contagion from the FTX crypto collapse has claimed another major scalp.

Cryptocurrency lender BlockFi has filed for Chapter 11 bankruptcy.

BlockFi claimed more than 100,000 creditors with liabilities up to $10 billion.

BlockFi was founded in 2017 and is now hoping bankruptcy protection will allow it to stabilize the company and restructure.

In a statement, the company says:

“With the collapse of FTX, the BlockFi management team and board of directors immediately took action to protect clients and the Company,”

“From inception, BlockFi has worked to positively shape the cryptocurrency industry and advance the sector.”

Days after FTX declared bankruptcy, BlockFi said it had significant exposure to FTX and its other corporate entities.

BlockFi is now the fourth crypto-focused company to seek bankruptcy protection this year, following FTX, Voyager Digital, and Celsius Network.

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It’s Musk v Twitter in tech war

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A war has broken out between Elon Musk in his battle against Apple.

In a tweet, owner Musk says Apple may ban Twitter from the App store, which would be devastating for his company, and wonders if it has to do with free speech. He even tagged Apple boss Tim Cook.

Musk says: “Apple has threatened to withhold Twitter from its App Store, but won’t tell us why.”

This all comes in the wake of other organisations allegedly following Apple’s suit and cutting back their advertising spending since the $44 billion Musk takeover.

General Mills and Pfizer have been two companies that have gone down this path and diverted their spending elsewhere.

Right now users can still see ads in their Twitter feeds.

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China protests hit global markets, crypto

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Investor watches markets

The protests in China are having a negative impact on cryptocurrencies and markets around the world.

Bitcoin failed to break its descent and fell more than 3 percent.

The global crypto market cap fell over 2%, sending major cryptos into the red.

Over the last 24 hours, overall crypto market volume grew by 22%.

It comes amid a round of investor nervousness in global markets spurred by protests in China against Covid restrictions.

Protesters outraged by harsh COVID-19 regulations called for China’s strong leader to quit.

China is the world’s second-largest economy and has a significant impact on global financial markets.

Stocks and cryptos aren’t considered safe havens, leading to bearing price action.

Analysts are hoping for a sharp bullish reversal if and when the protests end.

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