Of course, Arthur Cheong cannot see the future, but his years of experience may have at least given him the ability to read the present accurately. Cryptocurrency Looking at the opinions and evaluations of different experts in the markets can help us gain different perspectives. So let’s take a look at the famous investor’s views on the upcoming period.
Arthur and Cryptocurrency Comments
Although the BTC price pushed $60,400 in the early hours, it is stalling at $59,700 at the time of writing. For now, the closing above $59,200 is positive. If we see significant demand at the Asian market opening in about 12 hours, we will be able to ETF entries could help strengthen the bullish momentum. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
DeFiance Capital CEO Arthur Cheong made unusually different assessments in his latest post.
“I think we need to accept that cryptos are not suited for mass adoption like web2, but instead are optimized for certain narrow but extremely high-impact use cases like global stateless money, cross-border payments, and decentralized finance.”
He said pursuing mass adoption was not a good idea and was focusing on the wrong goal. Still, he is happy with the current situation.
Will Cryptocurrencies Increase?
Cheong also said he expects a rise in the BTC price in the short term. According to him, the capital flow from traditional finance to crypto has hopefully countered the German sell-off, and this strong demand represents the final stage before the rally. Germany, which has been selling for weeks, recently reset its 50,000 BTC to market makers and exchanges, resetting it at lower levels.
“German government sold all its BTC, TradFi BTC exchange-traded funds (ETFs) have bought them. In addition, the upcoming launch of ETH ETF The excitement has also reduced this pressure to some extent. It’s almost a perfect environment for us to go higher from here.
“Overall we are seeing very strong signs of accumulation for certain quality tokens. There seems to be a shift towards coins with clear fundamentals.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
