Epiq Bankruptcy: "In anticipation of a crisis, it's time to look for a support on cryptocurrences" – Bits Media

EpIQ Bankrupy analysts unveiled a warning to the business increase in bankruptcy and the Council to consider leaving the crisis using hedging tools, offered by cryptocurrencies.

EPIQ experts clarify: The growing number of bankruptcy signals the insufficiency of traditional methods for hedging financial risks. Already 13 months in a row, the total number of bankruptcy applications for individuals and commercial enterprises is only increasing. The number of applications from small business enterprises increased in August 2023 years on 43 % Compared to August last year. The total number of bankruptcy applications for a month was about 42 000, What's on 18% more, than a year ago.

“The quantity will only increase. This emphasizes the decisive role, which crisis managers should play in a sentence of effective strategies and reasonable solutions to get out of the crisis and navigation in alternative markets ”, -says Vice President for Business Development and Epiq Bankrupy's income Gregg Maurin (Gregg Morin).

According to the information, provided
Whalewire stock market expert, in 2023 year, the number of applications for bankruptcy protection has reached a "dangerous level" in the United States, Similar to that, which was during the recession 2008 years and the beginning of pandemia Covid-19 in the spring 2020 of the year.

According to Whalewire, Such bursts of the number of bankruptcy usually indicate the upcoming large -scale crisis, Including a possible collapse of the stock market:

“This indicator indicates, that the economy does not work very well, And historically, it always followed the large -scale collapse of the stock market ".

According to
Forbes magazine observers, The cryptocurrency market has still reacted positively to global financial uncertainty and is still stable against the backdrop of tightening the situation with the volatility of the bond market. Therefore, on the threshold of a possible recession, investing in stable digital currencies, such as bitcoin or ether, may be a safer choice.

Among the ten largest digital assets on market capitalization, Excluding stablecoins, The modest August decrease in bitcoin made it the best asset for the indicators of the month. In August, the price of VTS fell below $26 000, but then recovered and closed a month at $ 27,371. As a result, the BTC showed a monthly decrease in only 5,2%.

Forbes experts note, that the cost of cryptocurrency as a whole remained stable all 2023 year. While the bond market and treasury papers was in a difficult position after the Fed’s signals about raising rates. After August losses, the price of VTS increased by 66,6% year by the year, And the price of the broadcast on 44%.

Forbes, the Director General of Devere Group Nigel Green agreed (Nigel Green), who stated, that against the background of the probable stagnation of the traditional financial market, the largest potential catalyst for the future growth of the digital asset market will be the response of the securities and exchanges on securities and exchanges (SEC) to a court decision in the case of Grayscale.

“The court’s decision destroyed the main argument of the SEC in favor of the deviation of all Sports Bitcoin-ETF over the past few years”, - believes Nigel Green.

He is echoed by the author of the book “Rich Dad, Poor Dad »Robert Kiyosaki (Robert Kiyosaki), offering entrepreneurs to pay attention to the cryptocurrency market and more widely use the tools offered on it for hedging financial risks.