Reports Show Bear Market Didn’t Affect Crypto Fundamentals

Notably, the first half of the year brought the most drastic phase of crypto winter ever witnessed in the history of cryptocurrency. Coupled with the collapse of Terra and some crypto-related companies, the market was thrown into a state of crisis. Related Reading: Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change? However, a report from Fidelity Digital Assets implies that the crypto fundamentals remained unscathed through the bearish trend. This information sprung following the manager’s annual report tagged 22 Institutional Investor Digital Assets Study. This occurred as the firm x-rayed the crypto industry from an institutional perspective. According to the research, the crypto market has fully repositioned to wade off the impact of macroeconomics it’s been facing recently. Survey Indicates Strength Of Crypto Fundamentals Tom Jessop, the President of Fidelity Digital Assets, reacted to the research. According to him, digital fundamentals have stood firm through the storm. Also, he noted that the institutionalization of the crypto market for some years had fortified it to withstand recent impacts. According to Jessop, institutional investors exhibited their experience scaling through different market cycles. He mentioned that the attractive factors in the market maintained their relevance as they moved across the bearish phase. The research surveyed about 1,052 experts from different firms durin...