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For the first time in a blue moon, the volatility in the cryptography market has declined sharply, many digital assets, such as Bitcoin, remain tied despite positive (and negative) developments. The stability observed in this emerging market has led many investors to logically ask where could be directed then Bitcoin and his brothers altcoins. And CNBC Fast Money's newest guest might have an answer to this question, which has plagued the minds of cryptocurrency enthusiasts around the world.
Crypto positive news cycle, but no noticeable price movement
As many investors have a hard time remembering, at the height of the crypto-hike at the end of 2017, here's what fueled the market. But now, as Spencer Bogart explains of Blockchain Capital on CNBC Fast Money, this is far from the case, adding that the relationship between news and pricing is currently non-existent.
After a flood of good news this week, #bitcoin is flat but @CremeDeLaCrypto says he's just scored a bottom. pic.twitter.com/MQgVMR5ove
– CNBC Fast Money (@CNBCFastMoney) October 5, 2018
Establishing links with some of the hottest news of the week about encryption, he explained:
"I would say that [the lack of movement] is a function of the market. Look, towards the end of last year, when we were at the top of the market, the bad news seemed to have no effect on the market. So now we see the other side of the issue, where we have a week of amazing news, with TD, Ric Edelman and Yale [entering the cryptosphere]but this has no effect on the price. "
Bogart, an intrepid cryptocurrency analyst, added that what is important is that this information becomes a "cornerstone of construction" or, if you prefer, a cornerstone that will lead to more capital and interest. in this space.
TD Ameritrade's ErisX, for example, will give the financial institution's 11 million customers access to easy-to-use, investor-oriented and physically delivered cryptocurrency trading features that will undoubtedly functioning of this market.
Bogart also drew attention to news from Yale University, adding that even though the $ 29.4 billion endowment managed by David Swensen invests in crypto through equity funds, risk, instead of physical crypto assets, it is undoubtedly a rise.
"Bitcoin is near the end"
Alex Kruger, a New York-based commentator on cryptocurrency and blockchain, recently went on Twitter to discuss the lack of volatility in this nascent market, revealing tweet The intraday volatility of BTC had reached a low point in the year. In a market that has been defined for its irrational price fluctuations, a lack of volatility has obviously displeased many speculators in recent months.
But, as disclosed by Bogart, this could change a dime, explaining that cryptographic assets, especially Bitcoin, are showing signs that the long-awaited fund is within reach of this industry. The insider of the industry said:
"We are down 70% from our highs, so I think Bitcoin is about to break down, as is the rest of the crypto market. But I think it may take a little while. "
Giving CNBC viewers something to watch, CFA-certified Blockchain Capital partner closed on Fast Money, explaining that today's news can be likened to a "flashover" that will eventually become part of the next crypto bonfire or a price hike. terms.
It is interesting to note that Bogart's comments on the low market condition are similar to those of Mike Novogratz, who claimed that cryptographic assets "covered the entire bubble of 2017" and asked that BTC be valued at 10. $ 000 by the end of the year.
Although Novogratz, who has become a polarizing figure in the cryptographic community, has since retracted his $ 10,000 appeal, it is clear that the mindset of investors and analysts is starting to see a fundamental shift. But for the moment, it remains to be seen whether this change will trigger a FOMO or FUD that will dictate how this market will evolve in the foreseeable future.
Featured image of Shutterstock
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