Barclays: Cryptocurrency Market to Continue Weakness Next Year Without Clear Catalysts
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British investment bank Barclays has issued a somewhat pessimistic outlook for the cryptocurrency market next year, Cointelegraph reported. In a recent year-end report, Barclays stated, "Trading volumes in the spot market, a key source of revenue for major platforms such as Coinbase (COIN) and Robinhood (HOOD), have recently plummeted. Amidst the continued decline in spot trading volumes, demand from individual investors is also declining significantly. Currently, BlackRock and Robinhood are conducting pilots for tokenization markets, but these initiatives are still in their early stages and are unlikely to have a significant impact on the market. Currently, there are no clear catalysts to revive demand, and unless there is a major event, such as the approval of a BTC spot ETF in 2024 or the election of a pro-cryptocurrency president in November of the same year, structural growth in the market is likely to be limited."
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