The CEO of Pantera Capital: investors overestimate the impact of the ETF on Bitcoin
Source:
Prior To the approval of the first exchange triptofana a lot of time, but the CEO of a hedge Fund Pantera Capital Dan Morehead believes that investors are exaggerating the impact of news on the market. According to the analyst, waiting for even a greater effect on price than the event itself. About it writes .
theshould Not worry about Bitcoin
Recall the fall of the major cryptocurrencies has occurred because of the period of review ETF.
I think the stock cription will not be soon. The last asset that received ETF, was copper. This precious metal used by people for over 10,000 years. Recall, Bitcoin only at the very beginning of his career. People overestimate every event around him.
Last month a negative response from the SEC, the Winklevoss brothers, that's too bad effect on the price of the home currency.
SEC rejects ETF different for five consecutive years. The financial regulator is very wary of exchange-traded funds.
According to Morehead, investors should focus on news about Bakkt, project the largest network of US exchanges.
This is big news. In the next ten years, they have much impact on the stock market.
Correction Morehead Bitcoin is not considered a problem. The analyst noted that the cryptocurrency is still increased by 82 percent over the year. Today Bitcoin is trading around $ 6360. In recent days the coin has lost 2.5 percent of value.
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