Crypto Markets Plunge, Experts Predict Recovery

Cryptocurrency markets, including Ethereum and Solana, have experienced a significant downturn, with major altcoins dropping by 13% and 9% respectively. This trend extends to crypto-focused public companies, such as Strategy and Circle, which have also declined by 16% and 20% respectively. The recent selloff is attributed to uncertainty in markets, a sharp change in expectations for a December Federal Reserve rate cut, and broader economic factors. However, some experts remain optimistic, citing growing institutional adoption of crypto and a more expansive monetary environment. Vetle Lunde, head of research at K33, predicts Bitcoin will find its bottom between $84,000 and $86,000 before recovering, suggesting a potential turnaround in the near future.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.