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- Some of the ETF investors think that the current time in the crypto ecosystem is a turning point for the crypto community.
- Matt Hougan said “It’s a really dynamic moment in the crypto market.”
The most-traded cryptocurrency, Bitcoin, dropped from its one year high of $67,566.83 on August, 11, 2021, to the current trading price of $18,481.77 on September 19, 2022. The poor-performance of Bitcoin indicates that some investors have loosened their interest in cryptocurrency, but many of the long-term investors further advise to take crypto’s comedown in stride.
Advice from The Leading Investors
On September 12, 2022 Ric Edelman, Founder of Edelman Financial Services, said to Bob Pisani on CNBC’s TV Program “ETF Edge,” “If you’re going to do this right, then what’s been happening in the recent nine months is totally irrelevant. And If you’re investing for the next five to 10 years, this is just an ordinary blip in the marketplace, and you ignore it.”
Edelman discussed more about the regulators and added “Right now, we have 1% engaging in crypto. You’re not going to get the other 99% until they have clarity on what the rules of the road are. We are going to see new rules coming out from the Treasury, IRS, FINRA and from the Fed. And from the SEC and CFTC. We’ve got more than 50 bills in Congress right now. And all of this is very hefty.”
Matt Hougan, CIO of Bitwise Asset Management, also added “It’s a really dynamic moment in the market. The recent technical upgrade in ethereum is a constructive force for the future of the world’s second-largest blockchain, Ethereum. Additionally, A wave of institutional investors coming into the market, and an influx of venture capital activity are also forward-looking indicators for crypto’s future.”
Moreover, Hougan believes that as the BlackRock and Schwab coming in reinforces to everyday investors that Bitcoin is not going away and that it’s now been settled.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
