Critical Bend in Cryptocurrency Market

Cryptocurrency giant Bitcoin, which went down to the limit of 28 thousand dollars on May 26, reached the level of 32 thousand 375 dollars on May 31. After a 5-day process, BTC fell below 30 thousand dollars again. Investors' expectation of a 'rally' became a dream again.

In these days when inflation is often felt, new price hikes and livelihood problems remain on the agenda. In this situation, people continue to make investments in various markets while trying to protect their savings against inflation, if any. The fact that the return on fixed-income instruments such as deposits was well below the inflation led investors to seek alternatives, while the number of those who invested in stocks increased by 140 thousand since the beginning of the year. Cryptocurrency was also one of the products in which residents of Turkey showed the most interest. However, those who stepped into the crypto world with the dream of high returns in the last 1 year have not yet found what they hoped for. Especially for those who entered after the beginning of November, it was a complete disappointment. Experts continue to underline that the money you will invest in crypto should not be needed and it should be around 5-10 percent of your total savings. Because the LUNA case, which happened in the past days and where its investors almost 'reset' their money, revealed how valid this rule is. The LUNA crash continues to set a very important example for this market. A survey of insurers by US banking giant Goldman Sachs revealed the growing interest in crypto assets. In a survey of 328 financial officials, representing half of the $26 trillion market, 6 percent stated that they have invested in cryptocurrencies and are considering investing more. According to the survey, although it is seen that most of the insurance companies do not invest in cryptocurrencies, Goldman Sachs stated that this rate is positive considering the recent market fluctuations and decreases. In the survey, cryptocurrencies ranked fifth after private equity, commodities and stocks. The previous week, cryptocurrencies were ahead of real estate in JP Morgan's ranking of preferred alternative investment products.