Cryptocurrency, is it over? Or just adjusting?
With the major cryptocurrencies falling these days, there are different opinions on whether the market will continue to fall or just adjust at the current point.
Investors rotated out of crypto and into equities by Vanda Research
Major cryptocurrencies like Bitcoin and Ethereum have fallen 30% of their prices since the last week, and cryptocurrencies’ momentum seemed to be stalling. In contrast, Nasdaq showed an increase of about 1–2%.
There were opposite voices like what Cathie Wood, CEO of ARKinvest, said the market now is only in the middle of an adjustment phase and it is a good opportunity to buy Bitcoin now.
In addition, CEO Delano Saporu of New Street Advisors Group also mentioned in an interview last week that, it is a good chance to buy Bitcoin at the moment if investors are looking for long-term investment.
Related news:
https://www.cnbc.com/2021/05/19/bitcoin-cryptocurrency-drop-a-great-opportunity-to-buy-trader-says.html
Ethereum will dominate the crypto market?
According to Goldman Sachs, there is a high chance for Ethereum to dominate the cryptocurrency market and overtaking Bitcoin in the future because of the Ethereum ecosystem.
There are different sides of opinions towards cryptocurrency markets but it is clear the investor sentiment has not yet totally recovered.
