The sudden market crash on Friday, which caused some cryptocurrencies to decline by as much as 95% in under 24 hours, does not signal a long-term bearish outlook or deteriorating fundamentals, according to investment analysts at The Kobeissi Letter.
Friday’s market meltdown was triggered by a perfect storm of short-term factors, including “excessive leverage and risk,” and US President Donald Trump’s announcement of 100% tariffs on China, the analysts wrote.
The Kobeissi letter cited…
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