© Reuters Bernstein Predicts Crypto Domination: FTX’s Downfall Paves The Way For Bitcoin And Ethereum Explosion ETH/USD +0.84% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/GBP +2.07% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close ETH/USD +0.84% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/EUR +2.05% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/USD +2.68% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/JPY +2.21% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/EUR +2.16% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
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Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BLKCF 0.00% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close ETH/EUR +0.24% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close BTC/USD +2.67% Add to/Remove from a Portfolio Add to Watchlist Add Position Position added successfully to:
Please name your holdings portfolio Type: BUY SELL Date: Amount: Price Point Value: Leverage: 1:1 1:10 1:25 1:50 1:100 1:200 1:400 1:500 1:1000 Commission: Create New Watchlist Create Create a new holdings portfolio Add Create + Add another position Close Benzinga – The collapse of FTX (CRYPTO: FTT) has been a driving force behind a fresh surge in the cryptocurrency market, according to a recent analysis by Bernstein .
The report released on Monday explained how the downfall of the cryptocurrency exchange eliminated the final wave of “harmful crypto leverage” and educated digital asset investors about the significance of decentralization and self-custody wallets, Coindesk reported.
Bernstein’s research also highlighted the favorable macro factors aligning for Bitcoin (CRYPTO: BTC), the largest cryptocurrency by market capitalization.
These include ongoing struggles in U.S.regional banks, increasing deposit outflows towards money market funds, and the major four U.S.banks, all of which emphasize worries regarding the “centralization of money.”
Analysts Gautam Chhugani and Manas Agrawal wrote, “Bitcoin is ideally positioned as a safe haven asset alongside gold, in the event of any potential dislocation, be it on the bank’s credit side, or on the sovereign side.”
Also Read: Elizabeth Warren Blasts Bitcoin Mining For Hurting American Wallets And Enriching Crypto Execs
Year-to-date, Bitcoin has experienced an 80% increase, with a 23% jump in March as multiple bank failures occurred in the U.S.
Meanwhile, Ethereum’s native token Ether , (CRYPTO: ETH), has risen 76%.
Ethereum successfully executed the much-anticipated Shapella hard fork last week, enabling users to stake and unstake Ether as desired.
Following the upgrade, Ether surged 13%, boosting the overall market.
The Bernstein report also mentioned that Ethereum’s blockchain fees have tripled, indicating “growing user intensity and token prices, post FTX.”
The analysts believe that the current crypto cycle is still underappreciated, with several positive factors coming into play, such as macro catalysts, a new Bitcoin mining cycle, ongoing successful Ethereum blockchain upgrades, and the triumph of Ethereum scaling ecosystems like Arbitrum.
The study concluded by asserting that constructing a novel institutional financial framework on the blockchain is still a valuable pursuit.
The analysts stated, “Serious participants remain focused on the long term,” adding that this will be the “first crypto cycle which will see participation from leading institutional investors.”
Read Next: Marathon Digital Shows Strength Compared To Bitcoin As Traders Secretly Watch The Stock
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Bernstein Predicts Crypto Domination: FTX’s Downfall Paves The Way For Bitcoin And Ethereum Explosion.
