Bloomberg Intelligence: Crypto Outlook May 2022
"The crypto market at the start of May appears as a nascent revolution in fintech and money vs. some purging of speculative excesses and headwinds from the Federal Reserve. A lack of supply elasticity is a key attribute of top cryptos — Bitcoin and Ethereum — as demand and adoption rise, with related favorable price implications. The first 50-bp rate hike from the Fed in over two decades is price resistance for all risk assets, notably those that have rapidly inflated. Cryptos are tops when it comes to speculation, appreciation and risk, yet the stalwarts — Bitcoin, Ethereum and the proliferation of crypto dollars — are shining."
Full report HERE.