Bank of America (BofA), one of the largest banks in the United States, does not expect a "cryptocurrency winter" given the level of user adoption and growth in development activity.
In a report titled "Digital Assets: On the Move" published on February 25 by analysts at the banking giant led by Alkesh Shah, it was noted that an analysis of cryptocurrency flows between individual wallets and exchange-based wallets shows that investors are undecided about the direction of the market.
The report notes that Fed tightening could limit the upside of the cryptocurrency market over the next six months, but it won't be a "cryptocurrency winter" given the level of user adoption and growth in development activity.
The bank said bitcoin (BTC) outflows from exchanges indicate that "bottom" buying has decreased, while ethereum (ETH) inflows to exchanges indicate that price volatility in the largest cryptocurrency by market capitalization will continue for some time.
In addition, analysts noted in their report that the top three stablecoins by market cap slowed sharply for the second week in a row, with stablecoin inflows to exchanges falling 99% per week to $517,000 last week.
Vitalik Buterin said at last week's ETHenver event that a possible "cryptocurrency winter" would make many investors happy.
Vitalik Buterin: Cryptocurrency Winter Delights Many Investors
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Tuğay Kaynar, who graduated from Nişantaşı University, finds the history of architecture and art interesting. In his interest in art, he read books that improved him in terms of content writing. In recent years, due to his interest in Bitcoin and alternative cryptocurrencies, he communicates what he sees, hears and knows to the readers of Koin Bulletin.