Further downside is expected, but multiple data points suggest Bitcoin is undervalued

2022.06.16 22:32

Further downside is expected, but multiple data points suggest Bitcoin is undervalued

The outlook across the cryptocurrency ecosystem continue to dim as the sharp downtrend that was initially sparked by the collapse of Terra now appears to have claimed the Singapore-based crypto venture capital firm Three Arrows Capital (3AC) as its next victim.

As large crypto projects and investment firms begin to collapse on a weekly basis, the prospect of a long, drawn out bear market is a reality investors are beginning to accept.

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