Bank of America: the potential of the crypto market is limited in the short term

The Bank has published a short-term report. It indicates that the potential of the crypto market has its limitations for the near future.

More about the report

It indicates that the possible growth of cryptocurrencies is limited by several factors:

1. Poor conviction

2. Minimal catalysts

3. Difficult macroeconomic situation

According to the bank's representatives, when communicating with clients, there is an assumption that hedge funds are starting to use digital asset trading again.

At the same time, impulse strategies are more advantageous as a result of high volatility. This is due to the decline in the volume of crypto trading.

Under impulse investing, it is assumed to buy assets that are growing in price and then sell them at the point of the maximum, in the investor's opinion, price. At the same time, volatility is used to determine the possibility of purchasing the desired coin on short-term uptrends. When the momentum weakens, the sale of previously purchased digital assets is carried out.

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