A JPMorgan strategist has predicted that the worst element of the crypto winter for crypto assets, firms, and individual investors is close to an end. Deleveraging, a practice that has been the last resort for a number of troubled crypto firms, is predicted to have reached its terminus.
JPMorgan’s Panigirtzoglou admits deleveraging has been the last resort for most investors
“Indicators like our Net Leverage metric suggest that deleveraging is already well advanced,” said Nikolaos Panigirtzoglou, strategist and Managing Director at JPMorgan. Panigirtzoglou acknowledged the surge in deleverage positions during the bear market.
He pointed out that part of the reason for this prediction is the fact that other crypto firms with “stronger balance sheets” are making it a business of theirs to assist in making sure the virus that has been spread by the bear market is contained.
The analyst was obviously making reference to Bahamian cryptocurrency derivatives exchange FTX’s intervention in...
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