Experts predicted “uncomfortable turbulence” in the market due to FTX and BINANCE conflict
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Binance cryptocurrency exchange output from investment in FTX and the intention to get rid of the platform token provoked a drop in the latter by almost 30% and a decrease in bitcoin quotations to a level of $ 19,500. The confrontation between the giants of the industry in the bear market in the short term threatens with significant shocks for the players, said Forklog experts interviewed.
According to the co -founder of Encry Foundation Roman Nekrasov, the current situation should not be regarded as the intention of Binance to destroy FTX and Alameda Research.
“However, I willingly believe in the desire of Binance to pull the blanket over myself, increase the share of its Busd token in the market due to the fact that many investors in panic will begin to enter stabelcoins,” he said.
The expert did not exclude that in the coming days or weeks, Binance will change the decision to sell the remaining FTT in the open market in favor of the sale of tokens of Alameda itself. At the same time, turbulence during this period can be “very uncomfortable”, especially for newcomers in the cryptornka who did not find 2014 or 2018, he pointed out.
“Turbulence is not only a fall down, it is also sharp, poorly predicted bursts of price up. So for several weeks we can see a panic sale, and then the purchase of cheaper assets with more optimistic investors, ”Nekrasov explained.
In the medium and long-term perspective, macroeconomic factors will continue to crush the crypto: increasing the key rate in the USA and Europe, high inflation and risk of stagflation.
“In general, nothing good in the next six months is waiting for us Canada’s Conservative . But the lucky ones can be lucky and they will ride on the waves of instability, which is provoked by the situation around Alameda/FTX, ”the expert suggested.
The head of the Gear ecosystem Pavel Salas expressed fears regarding the liquidity of FTX, which is significantly inferior to Binance in trade turnover. Alameda Research offers to redeem FTT tokens at a price of $ 22 previously did not meet support from Chanpen Zhao.
“The inability to redeem token and punching a level of $ 22 is likely to entail an even deeper FTT drop and further collapse of the entire structure. It will be extremely difficult to get additional loans for maintaining the price, ”the expert believes.
He recommends watching the situation for a couple of weeks, abandoning this period from short positions in cryptocurrencies. In the case of FTX collapse and subsequent sales, Bitcoin and Ethereum can also wait a fairly strong blow, Salas warned.
CEO Indefibank Sergey Mendeleev believes that a similar situation on the day of the US Congress “could not happen just like that”.
“FTX is most likely rolling in the end, and if not to bankruptcy, then to very difficult problems with liquidity. But on them, many tooth have grown since the time of suspicions in the Luna dump, and the collective and obscure resulting in the end resulted in today’s situation, when Alameda was driven more on jokes than for practical considerations, ”he said.
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