Stablecoins are quietly growing even more important for the crypto sector
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Recently there has been no shortage of headlines and discourse around cryptoassets, generating both positive and negative price momentum for the sector. As both the Mt.Gox and German government liquidations proceed in a seemingly orderly manner these actions have both placed significant pressure on the price of bitcoin, which briefly dropped below $58,000. That said, as these liquidations have continued the price support at these levels has held, indicating that even after an initial bout of fear caused by this mass selling, investors remain confident in the medium to long term price forecasts. J.P. Morgan, for one, expects liquidation and price pressure to conclude by the end of July, followed by a market rebound in August. Crypto predictions are notoriously difficult to get right, but it…
