Rich Rosenblum, co-founder of trading firm GSR, attributes the market’s volatility and investor anxiety to uncertainty surrounding the U.S. elections, fluctuating interest rates, and potential instability in the Middle East.
“Most indicators suggest that cryptocurrencies are entering the second phase of a bull market,” he pinpointed.
“However, a macroeconomic or geopolitical collapse, akin to March 2020, could severely impact cryptocurrencies, as many ‘tourist’ investors who joined last year do not have strong confidence in the present Bitcoin