Crypto Briefing 8/5/22 - The Forecast

Crypto Briefing 8/5/22

Crypto Briefing 8/5/22

Bitcoin continues to show strength but we believe it will break its previous low.  Nonetheless, while the short term market is bearish for Bitcoin, we believe it will recover to $40,000 to $50,000 by year-end.

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Even though HBAR’s price has continued to decline heavily in this bear market, it continues to build a rock solid ecosystem.  Hedera Hashgraph continues to improve on its underlying network infrastructure to the point where it can now compete with networks like Solana or Ethereum.  For instance, just a few months ago, Hedera Hashgraph lacked an NFT marketplace, a decentralized exchange, and a wide breadth of applications. Today, the Hedera community is celebrating the launch of the network’s first decentralized exchange where people can swap between different coins built off of Hedera. This DEX is called Saucer Swap, and in addition to swaps, people will also be able to participate in DEFI and yield farming opportunities. What we believe will emerge from Saucer Swap is an increased level of engagement on Hedera, which in time will benefit the price of HBAR.