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Crypto market could see ‘pullbacks’ ahead of the holidays: Analyst

Author: Content Editor
The head of strategy at Kraken, Thomas Perfumo, discussed the recent market volatility and the potential for altcoins to outperform Bitcoin. He believes that a rally in altcoins typically follows a run-up in Bitcoin, leading to a rotation of investments. Perfumo also suggests that improvements in scalability and a pro-growth agenda for crypto innovation will create an environment conducive to increased adoption of crypto services. He advises preparing for lower liquidity in the coming weeks and mentions that selling might be postponed until the new year due to potential tax consequences in the US. Perfumo agrees with the idea that the crypto cycle still has plenty of potential, highlighting the successes of DEXs and infrastructure plays. However, sectors like web3, gaming, and the metaverse are not yet ready for mainstream attention. Nonetheless, Perfumo remains bullish on the crypto environment, seeing it as a recipe for innovation in the space.

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