Analysis Firm Says “Latest Plunge Demonstrates Bitcoin’s Strength,” Releases December Price Forecast

According to TD Cowen analysts, the recent massive drop, which resulted in liquidations of approximately $19 billion, demonstrates that the cryptocurrency market remains extremely volatile, but also proves that the ecosystem is resilient enough to weather such shocks. “While the recent incident caused serious financial hardship for many investors, what impressed us most was how well the infrastructure ￰0￱ open interest was halved, most crypto exchanges continued operating with minimal disruption,” the analysts ￰1￱ this month, the overall cryptocurrency market plunged by more than 10% after US President Donald Trump announced he would impose 100% tariffs on Chinese ￰2￱ totaling $10 billion, liquidations quickly swelled to nearly $20 ￰3￱ News: Mysterious Transfer of 50 Million XRP Made from Ripple Co-Founder's Wallet TD Cowen argued that Bitcoin and Ethereum, in particular, emerged relatively unscathed from this ￰4￱ to analysts, “While less reputable tokens virtually disappeared, Bitcoin only fell 15% to its bottom and closed the day down 8%.” Company analysts also maintained their optimistic expectations for Bitcoin, predicting that the price could reach $141,000 by December.

Furthermore, the TD Cowen report noted that Bitcoin's global adoption continues ￰5￱ example, in Japan, the number of digital asset account holders has quadrupled to over 7.9 million. *This is not investment ￰6￱ Reading: Analysis Firm Says “Latest Plunge Demonstrates Bitcoin’s Strength,” Releases December Price Forecast