BTC and most top cryptocurrencies experienced massive sell-offs in the last few days following China’s crypto clampdowns. For instance, yesterday, most top coins were trading in the red zone. However, according to a renowned financial expert, crypto cynics have it wrong as far as the plummets are concerned. Nigel Green, deVere Group founder, and CEO said the bullish statement as the crypto market witnesses a stormy session this week.
The overall cryptocurrency market has lost almost $400 billion since Friday. That was after a BTC mining hub suspended crypto operations in Sichuan.
The news came after sources stated that the Chinese central bank met with financial platforms, ordering them to suspend crypto transactions.
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On Tuesday, the leading crypto, Bitcoin, saw an unpredictable trading session, dipping beneath $30,000. Some market analysts saw the mark as a vital support zone before the asset rallied back to the positive territory.
Mr. Green stated that long-term crypto investors might not worry about the current market condition. He said that serious traders would use the lower prices initiated by panic sells as a vital buying opportunity.
He further declared that even investors in China, a large BTC market, will employ various strategies to navigate the system and magnify their crypto portfolios, taking advantage of the lower entries.
The financer believes that BTC will have a price pullback soon, which investors will utilize proactively. He said that their market experience has them concluding that investors play long-term games in the crypto market. Some vital factors that drive crypto investors include:
BTC is against inflations since it has a limited supply not impacted by the coin’s price. At the moment, there are increased concerns about inflation as businesses open up.
Another thing is the increased support by institutional investors who have ventured into the crypto market.
Thirdly, Green views the increased regulations as shaping cryptocurrencies as a future currency. He said that government increased crypto concerns reflect crypto becoming a medium of exchange in the future.
Lastly, the deVere executive stated that crypto pessimists enjoyed attacking cryptocurrencies this week, but expert investors are not worried about the market volatility.
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What do you think about the future of crypto? You can comment below.
