With cryptocurrencies being battered, it’s understandable that investors’ and supporters’ morale is low and their fear, rising.
But some crypto experts have offered encouraging ideas to combat FUD (fear, uncertainty, and doubt) that is clouding the air of the crypto market.
Cathy Wood, Chief Executive Officer of Ark Invest, found a way to put a positive spin on the bloodbath that is plaguing cryptocurrencies.
According to Wood, all indicators suggest that right now we are in the capitulation phase and it is the perfect time to buy. The CEO said, “No matter what the asset is, a capitulation phase is a buy. It’s on sale.”
All-time high of stabecoins deposits
Popular digital assets investor and crypto analyst Lex Moskovski looks at one of the positive events that took place amid the brutal wipeout in the crypto market.
On his Twitter post, he said “$5.28 billion of stablecoins were deposited to exchanges in 24 hours.” He noted this is an all-time high and all kinds of people bought Bitcoin’s dip.
Meanwhile, investor and Real Vision CEO Raoul Pal said this has happened before and it follows the pattern observed in 2013 and 2017. He claimed, the current pattern of the bull run of Bitcoin and cryptocurrencies is nothing new and numerous charts prove it. He remains optimistic and even predicted an over-extension of the bull cycle.
Will history repeat itself?
Back in January, Up Only’s Cobie, also a crypto expert, already described the current situation crypto traders are in right now. He believes this situation is necessary for Bitcoin to hit $100K-$200K per coin.
“A blow-off top and a consolidation period that destroys weak hands” is needed in order for everyone to think it is over and hype dies down. The “Crypto Cobain” closed his case saying “basically, 2013 repeated in 2021.”
Image courtesy of Cointelegraph News/YouTube