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Author Topic: Genesis Bankruptcy Impact on Crypto world and Bitcoin  (Read 502 times)

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Genesis Bankruptcy Impact on Crypto world and Bitcoin
« on: January 19, 2023, 01:19:41 PM »
It is not just Gemini but also many other CeFi platforms and major hedge funds use Genesis for their yield product. Grayscale, the biggest Bitcoin fund in the world (GBTC), and one of the biggest Bitcoin holders, with a market cap of $11 billion as of this writing, are both sibling companies of Genesis.

Despite the crypto market movement is extremely bullish since the early start of year 2023, some were still bearish and strongly believed that the Bitcoin price could find the bottoms for the 2022 bear crypto market in coming days very soon. To prove this recently Bitcoin price dropped by 2.06% in last 24 hours and at time of this writing BTC is trading at  $20,771.17. This pullback in the BTC price has changed the hopes of analyst who earlier predicted the revival of a bullish market referring to the upswing ignited in April 2019.

What do you think about this?

 

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