It seems that we will have “crypto winter” for a while, since the short-term outlook in the cryptocurrency market indicates that we will continue to see downward movements in the prices of a large part of these assets, driven by various events that have generated fear and uncertainty among the cryptocurrencies. investors.

Cryptocurrencies went through a week of ups and downs. After the chaotic events of Terra and UST and the rise in interest rates, it seems that a large part of the crypto assets are beginning to settle at these new price levels, which, according to various analysts, will remain at least over the next few months.

One of the main events that has shown that negative sentiment towards crypto assets this week has been the statement by Christine Lagarde, president of the European Central Bank, who has said that cryptocurrencies are not worth a penny, since they do not have an underlying asset to serve as a safety anchor. Additionally, she has called on global lawmakers to put in place rules to protect inexperienced investors who make big bets on digital assets. In other news, it seems that the fall of cryptocurrencies has had quite important effects around the world, one of them is to have disappeared the concept of crypto billionaires in the world, since it is said that after the great crash there is practically not a single one left. One of those who owned that label was Vitalik Buterin, the founder of Ethereum, who has recently confirmed that he lost his billionaire status after the collapse caused by the removal of Terra (LUNA). As if that were not enough, Peter Smith, CEO of Blockchain.com, has expressed his opinion about the short-term future of cryptocurrencies, assuring that more pain will come for investors, and that more risks will also be exposed. However, he mentions that this is ultimately a good thing for the consolidation of a decentralized economy, as there are still weak protocols, assets, and investors that are about to be exposed after recent market volatility. Bitcoin is above $30,150 in an area that after the big drop seems to be consolidating the price of the asset, forming a kind of floor near a very interesting support zone. If so, it could soon return to $34,000. BTC/USDT 1D (TradingView Chart). Por su parte, Ethereum cotiza por encima de los $2,040, y de manera muy similar a Bitcoin pareciera que está formando ese piso cerca de los $1,950, por lo que podríamos ver a ETH volver hasta los $2,340. ETH/USDT 1D (TradingView Chart). This is the first crypto winter for a large number of investors, and although it is a quite complicated situation and it usually ignites our emotions, it is important to take into account that crypto assets that provide long-term value will prevail, and thanks to these moments it will be that it will be possible to consolidate those projects that will change the world. Without further ado, we wish you an amazing week.