Cryptocurrency

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cryptocurrency-investors-face-another-disappointing-month/" data-wpel-link="internal">Cryptocurrency Investors Face Another Disappointing Month</a><br></p>
<p style="text-align: justify">July also did not give cryptocurrency investors what they wanted, similar to June. It’s demoralizing, but such long, boring periods have always been part of crypto’s nature. Investors had to wait much longer with hope until bear markets reversed, and many altcoins gained more than 10 times this year.</p> 
<h2 style="text-align: justify" id="why-are-cryptocurrencies-falling">Why Are Cryptocurrencies Falling?</h2> 
<p style="text-align: justify">We can cite many reasons for the decline in cryptocurrencies, such as MTGOX, polls showing Harris first, and the US government’s BTC transfer. And even if the <a href="https://en.coin-turk.com/bitcoin-price-drops-3-as-analysts-warn-of-potential-downfall/" data-wpel-link="internal">Bitcoin</a> price exceeds $100,000 in a few minutes, we can cite many reasons for that as well. Currently, crypto investors are focused on negativities, acting as if there are no strong upward price catalysts.</p> 
<h3 style="text-align: justify" id="us-stock-markets-fell">US Stock Markets Fell</h3> 
<p style="text-align: justify">Although cryptocurrency investors may not be aware, US markets have been experiencing significant losses for a while. Bitcoin loves to follow them down, even though it doesn’t share such a positive correlation with tech company stocks when rising. Recent earnings reports did not yield good results for the stock markets.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-373972 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/nvidia.png" alt="" width="892" height="642"></p> 
<p style="text-align: justify">Semiconductor stocks and those related to <a href="https://newslinker.co/what-is-artificial-intelligence-ai/" target="_blank" rel="noopener" data-wpel-link="exclude">artificial intelligence</a> (AI) infrastructure experienced double-digit losses. Nvidia fell 6% in a single day. For a trillion-dollar company, a 6% drop in one day is a significant figure.</p> 
<ul style="text-align: justify"> 
 <li>Crowdstrike (CRWD) 25.5% in one week</li> 
 <li>Super Micro Computer (SMCI) 12.6%</li> 
 <li>GlobalFoundries (GFS) 12.2%</li> 
 <li>NXP Semiconductors (NXPI) 10.8%</li> 
 <li>Intel Corp (INTC) 10.5%</li> 
</ul> 
<p style="text-align: justify">They fell, and NASDAQ was also red today. Stephen Ju from UBS Global Research said it is “difficult to distinguish” the benefits of Google’s cloud platform AI investments and that expected revenues may not come before mid-2025. Google has spent $2.2 billion on AI so far and needs to tie up a large amount of capital here for another two years. These are risks.</p> 
<h3 style="text-align: justify" id="economy-and-bitfinex-lawsuit">Economy and Bitfinex Lawsuit</h3> 
<p style="text-align: justify">US economic growth exceeded expectations. The Fed is walking a tightrope, trying to balance the economy while reducing inflation. The expectation for the second quarter was announced as 2.8% against the 1.9% expectation. The Fed should clarify this year’s <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">interest rate</a> path next week. Inflation is falling, and we should see at least two rate cuts this year. If Powell can adopt a clearer stance in this direction, the pressure on crypto will also weaken.</p> 
<p style="text-align: justify">On the other hand, the US district court allowed the discovery of the lawsuit filed with the claim of market manipulation with unsupported USDT. If this issue can be resolved through an agreement without causing much demoralization, all the better; otherwise, the alleged mistakes made by the largest stablecoin in the past could undermine risk appetite.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cryptocurrency-investors-face-another-disappointing-month/" data-wpel-link="internal">Cryptocurrency Investors Face Another Disappointing Month</a></h5>
<p>The post <a href="https://en.coin-turk.com/cryptocurrency-investors-face-another-disappointing-month/" data-wpel-link="internal">Cryptocurrency Investors Face Another Disappointing Month</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Cryptocurrency Investors Face Another Disappointing Month

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