Coinbase Blames This Factor For Current Market Situation

Coinbase report blames negative sentiment towards crypto for current market situation

[{"selector":"#anim-6265c4e8-ed9d-4393-924c-6b70c717620b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(28.90624987200394%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] [{"selector":"#anim-ce791cb5-3151-4d9b-ba78-255508009ec7","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2f9bfeee-50b9-473c-995e-dd538cb6c5d2","keyframes":{"transform":["translate3d(0px, 187.12586%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The report, published by Cesare Fracassi, the Chief Economist at Coinbase, explores the crypto prices and the overall market efficiency.

[{"selector":"#anim-72db8e33-ae72-4fa2-8684-723243251a4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6e48fb0c-3b5a-4194-a401-bdee26df6c45","keyframes":{"transform":["translate3d(0px, 179.19228%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The report noted that crypto investments have yielded large returns in the last 5 years due to high adoption by institutional and retail investors.

[{"selector":"#anim-fda41a07-0c0d-406f-bf54-ad255c44c3fe","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-44556cb3-b91e-48e2-9c9f-f6dfe2839354","keyframes":{"transform":["translate3d(0px, 55.76055%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2c824f53-c8ea-4357-b3a0-b07e363b46f3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-52.391567192144464%, 0, 0) translate(-25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] According to analysts, worsening macroeconomic conditions and weakening belief in crypto has caused the market to crash.

[{"selector":"#anim-6d69361c-b2f8-4527-a8b8-13f9991ed6fa","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b8572c79-e0db-40d4-acc6-b453e3b9a6b1","keyframes":{"transform":["translate3d(0px, 58.52809%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] “The recent decline can be attributed for two-third to worsening macro-factors, and for one-third to a weakening of the outlook for cryptocurrencies,” the report stated.

[{"selector":"#anim-da116684-0411-4df2-a488-0b24d2d77619","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5ff34670-04d3-4eb6-8f2d-2a7636e3dde3","keyframes":{"transform":["translate3d(0px, 50.41001%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Coinbase analysts further compared crypto markets’ risk profile to that of oil prices and technology stocks.

[{"selector":"#anim-784a4efd-2c6f-4bfa-8204-cc2315a05fed","keyframes":{"opacity":[0,1]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6a15a9f3-e520-43ae-aff5-e391200c82cb","keyframes":{"transform":["translate3d(0px, 57.97458%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1800,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Analysts noted that the market’s assessment of digital assets’ future will determine their price in the present.

[{"selector":"#anim-2a34efca-dce8-4db8-9dde-b308b49f04c2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.61281938331315%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-3f5e88bd-b2bb-4a27-a1f1-ac72549ca9a3","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4b7f83a2-2823-4fcb-b8ae-8b6e7743858d","keyframes":{"transform":["translate3d(-99.53596%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9595bfd-a4ea-43a6-87db-7de847027841","keyframes":{"transform":["translate3d(-201.40846%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-64721b67-14a7-403c-9712-12bd74499354","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] Change in the outlook of the crypto industry relative to what is already expected will bring changes to prices. More crypto stories...