The new behavior is coming towards the investment market. Especially for crypto traders, the market behavior has become tougher for new investors. Hense, is it safe to buy bitcoin, or we should something else.
Before the Wednesday roller-coster, Cryptocurrencies seem to be okay but then the surprise happens.
After the two biggest backers Ether and Bitcoin fell almost at a percentage of 45% and 30% respectively.
According to the analysts, This year is not sustainable for crypto interest.
That is the reason why China has banned all crypto transactions. Moreover, they warned the crypto traders not to invest.
What Are Experts Saying?
According to Thomas Hayes(Chairman and managing member of Hedge Fund Great Hill Capital LLC ),
“There’s a lot of leverage embedded into crypto stocks so there will be a spillover effect into equity marketers in the short term and there is also quite the inflation fear as the market thinks the Fed might have to hike rates abruptly if prices keep rising”
One the other hand, Tom Plumb (Portfolio Manager of The Plumb Balance Fund) says,
“It’s not just a small segment of the world that is affected by cryptocurrencies; it’s now mainstream”
In the end, we have we want to conclude with the statement of Gavin Smith, CEO of Crypto consortium Panxora, Says,
“Bitcoin’s sharp price drop should come as no stock to the market”
Data And Source Provided By: The Economics Time
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