• Business - Your Money
  • Updated: February 03, 2023

New Exciting Month Is Inspiring New Crypto Market Moves

New Exciting Month Is Inspiring New Crypto Market Moves

Crypto World

The fact that the crypto business space had a less-than-perfect showing in the outgoing year means that crypto players may be in for all manner of intrigues in the month of February to prepare grounds for a positive new season.

While it seems like just yesterday when we all rang the Happy New Year bell, everyone has coasted into February already and settled down as things seem all somewhat relaxed in the crypto world, at least for once or so it seems.

Crypto Dynamics from a Finance Professor's Lenses

To set the perspective for a new month of new crypto market moves, today we spotlight the UT Austin McCombs School of Business Finance Professor, John Griffin. 

Back in 2017, John Griffin had ostensibly noticed something strange.

Griffin is known to embrace a totally different beat from typical business school finance profs who explore, say, how business cycles influence commodity prices or even how Fed policy sways the term structure of interest rates. 

In his own approach to these things, the 6-foot-2 former high school football star considers himself a crusader for good as well as a moral sleuth who, as he admits, “looks to expose financial evil, to shed light on the world and expose dark things in the markets.” 

It was after the Great Financial Crisis that Griffin became a devout Christian, dedicating his distinguished career to righteous forensic digging that’s unearthed abuses and a host of unethical practices ranging from insider trading to mortgage fraud to the doctoring of bond ratings during the financial crisis.

The Crypto Perspective in this New Month

For crypto companies embroiled in last month's staff layoff sagas, elements of John Griffin's deductions may have been playing up in developments around the existing and new Chapter 11 bankruptcies in the space, partnerships, and conversations about potential recovery in 2023.

Even with such a range of bad news that has entangled the industry, some cryptocurrencies had a bull run in January.

For such bullish cryptos, can we be correct to analyze proceedings based on Griffin's theories?

For example, Bitcoin rallied 40% during the month, while ether rose about 32% during the same period.

Solana also saw a serious recovery, from about $10 at the beginning of the year, near its lowest level since February 2021, up 146% to about $24.3 by the end of January, CoinMarketCap data showed.

However, going by the bullish runs, it seems predictable that these market movements could potentially spark more retail and institutional investors alike to dive in.

It is yet to be ascertained whether or not this seemingly random market rally will be sustainable in the month of February.

According to TC+ in this week's web3 focus, if you also lost your crypto amid Chapter 11 bankruptcy filings, you’re probably not getting it back. 

As the crypto world rues the Chapter 11 bankruptcy proceedings, several big-name crypto companies, especially those who lost funds are surely hoping to get all — or at least some — of their money back. 

A section of black people who invested in crypto was hit disproportionately hard during the most recent crypto winter. 

Notwithstanding, many Black founders and investors who were privileged to air their views remain optimistic about the sector’s potential for the black community as well as society at large. 

They reason that, if anything, last year’s economic correction was necessary.

“Bubble had to pop,” People of Crypto co-founder Simone Berry said.

“It wasn’t sustainable and economic correction was needed."

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