HC Wainwright says Bitcoin is ‘alive and well’

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  • HC Wainwright’s assessment of bitcoin’s future potential comes in the wake of the Bitcoin 2022 held in Amsterdam from October 12-14.

bitcoin price An increase in fear, uncertainty and doubt could put miners around $20,000 and miners in pain, but according to corporate investor HC Wainwright, bitcoin is “alive and well,

Rating company latest view bitcoin mining And the crypto space is that a bullish flip is inevitable, especially in a positive money supply environment. In short, reports of major cryptocurrencies being dead are ‘highly exaggerated’ even amid the problems surrounding public mining firms.

Rising hash rate reflects confidence in the future of crypto

In an industry update published on November 2nd, HC Wainwright’s Kevin Dede says that rumblings about the future of bitcoin have gotten a notch higher since the Ethereum merger.

These have also been accelerated by the network hash rate’s surge to an all-time high above 280 EH/s over the past few weeks as the price stabilizing around $20,000 hasn’t helped but led to the miner’s capitulation and further pain in the market. Fear got fuel.

And amid all this there are questions about bitcoin’s inflation-healing ability, regulation and many other exogenous factors.

HC Wainwright assesses rising network hash rate”The investments miners made mostly last year are a direct reflection of confidence in the future of crypto.,

Therefore, the investment banking provider expects the bitcoin mining industry to continue to feel the effects of the crypto winter. The pain may persist till the next stage and it would be sloppy to fail to plan the operations keeping this scenario in mind.

So what’s next for BTC price and the bitcoin mining ecosystem? HC Wainwright offered a bullish outlook for the world’s largest cryptocurrency by market capitalization. is a factor to watch Fed’s monetary policy,

,Our more bullish sentiment lies in the Fed’s tighter monetary policy easing on the side. A normalized money supply could lure investors back into risk-averse assets, a bucket in which the current bear market has dumped the crypto.O,” Dede wrote.

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