Bitcoin holds steady after crypto lender Genesis filed for bankruptcy, crypto experts said that the news was expected and priced in advance. Reports godbole17.
from YCharts. Grayscale, Genesis and CoinDesk are independent subsidiaries of the Digital Currency Group .
"Everyone knew it was coming," Mike Alfred, a value investor and founder of digital assets investment platform Eaglebrook Advisors, said, referring to the steady price action in the market. That said, the market could continue to show resilience to bad news, considering the lack of sellers in the market, asBesides, the crypto market has seen a bull revival this month, with bitcoin and ether gaining 27% and 29%, respectively and sophisticated traders"Transaction volumes have started to rise again on the Ethereum blockchain and this has resulted in crypto outperforming traditional assets, such as U.S. stocks, by +25% since the beginning of the year," Thielen noted.
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