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Crypto exchange operator warns investors of market downtrend

Thai crypto exchange firm Satang Corporation founder Poramin Insom has recommended suspending investment in digital assets as he expects the global market to face intense volatility in the near term from rate hikes and monetary policy tightening. Poramin explained that interest rate hikes, inflation rates, and US employment numbers are the three factors that determine the direction of the cryptocurrency market. Poramin said it remains difficult to determine when the crypto market will bounce back as the Federal Reserve will likely continue to raise interest rates until inflation is under control. He said investors should wait a longer before buying digital assets because the market is expected to continue on a downtrend for the next few months.

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