EToro’s digital portfolio manager and investment strategist Simon Peter and Fundstrat’s investment expert David Grider have jointly released a video explaining why they think the coronavirus crisis can strengthen cryptocurrencies as a whole.
Who now rules the market?
David Grider immediately gets closer with his thoughts about who dominates the space around the cryptocurrency. Well-known belief that they are mostly experts and the big fish from Wall Street refute:
“In 2016 and 2017, I think we saw some fish from traditional markets slowly wet their feet in cryptocurrencies. However, it was nothing dizzying. Although cryptocurrencies have evolved, it is still a relatively small market. I think he is still dominated by whales that entered the market very soon. ”
Simon Peter of eToro immediately began to broaden the idea. In his opinion, Bitcoin got rid of many investors who held cryptocurrencies for just a moment to make a quick profit. Long-standing traders andj hodlers still remain in the game.
“We have seen people trying to make the most of money across markets. However, there must be times when limited assets such as gold and Bitcoin become more valuable. Pumping money into the system will no longer help. Once the madness around the virus stops, what will investors do with all the newly printed money? Invest in assets. ”