The Key Is To Remain Positive

The Key Is To Remain Positive

Crypto news Lifestyle Social
March 18, 2020 by Super System
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Bitcoin Drop

Industry Exec Remain Positive After Huge Price Drop

Bitcoin Drop

In the wake of Bitcoin’s 50% price drop, there have been lots of panic and unrest in the market space. However, top industry executives insist the worse is over. Industrial leads have called for calm and positivity in the aftermath of what some people tag “black crypto day.”

Top industry executives that oversee some of the sector’s largest investments have expressed their resolute belief in the premium crypto asset, and they insist that they have a long-term confidence in the growth and progress of the market. 

“I’m 7+ years into my digital currency journey. Years ago I’d wake up in the middle of the night to check prices or allow my stomach to churn when the market dropped precipitously, but I never once lost faith in what this incredible community has built. Stay strong. HODL on.”

said Michael Sonnenshein, MD at Grayscale. In his role as Managing Director, Michael oversees the Grayscale Bitcoin Trust; a public traded Bitcoin investment company with close to $2 billion in assets. 

CEO of Galaxy Digital, Mike Novogratz said that he has no doubts about the crypto industry even in the wake of extreme volatility. He also noted that the confidence of investors around the world in most assets have dropped, making Bitcoin a more valuable proposition long term.

In addition, Paolo Ardoino, chief technology officer at Bitfinex, said that a market is not defined by what happens in a single day. 

“Bitcoin is a battle-tested asset which in time will prove its underlying strength as a genuine store of value. While Bitcoin has grown to fruition during a period of massive QE from central banks, it will in time, prove its metal as these policies surely begin to fail.”

Room For Positivity 

According to cryptocurrency trader and technical analysts, Eric Thies, one key positive to take away from the market crash, is that it happened at the start of the month, thus giving the market more time to stabilize, and recover. 

“Although we aren’t sure what mayhem ensues in the media and markets from here, just know this: Buy when people are fearful. Sell when people are greedy. Times like these, in which emotion and stop-losses are triggering catastrophic results are typically a sign of true capitulation and often a time to countertrade the masses.”

 

 


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