Bitcoin falls again over the weekend, cryptocurrency rollover on Russia may not be realistic

Bloomberg said that if the stock market falls quickly, Ether could return to around $1,700 in the summer of 2021. But if traditional securities markets do well, then Ether could well return to around $4,800 in November 2022.

Bitcoin could be a "good bet" for investors if the Federal Reserve is able to stave off an impending U.S. recession, said independent market analyst Bitcoin Jack. He pointed out that, in the face of inflationary risks caused by the situation in Russia and Ukraine, the Fed chose to raise interest rates sharply to suppress inflation, thereby increasing the risk of recession, or the Fed will continue to implement easing policies, then the higher CPI index will also put pressure on the economy. Without the U.S. economy going into recession or collapsing, bitcoin and gold would both be good investment options for investors, he said.

While the market has been talking about Russia possibly using cryptocurrencies to escape sanctions, financial blog Zero Hedge says Russia's actual bitcoin trading volume has been a big disappointment so far. It says that Russian trading volume is relatively small in absolute terms, and despite looking impressive on the charts, it actually averages only about 210 bitcoins per day. That doesn't make much of a splash compared to the volume of bitcoin spot as well as derivatives trading.

A note released by JPMorgan Chase last Wednesday noted that the cryptocurrency market has more upside ahead as inflows into the stablecoin market have surged in the past week. The bank highlighted that the market share of stablecoins in the overall cryptocurrency market has soared to an all-time high of about 10 percent, which implies more upside for the general cryptocurrency market, as stablecoins are "often used as the initial vehicle for fiat-to-cryptocurrency conversions.