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In right this moment’s crypto market dialogue, Cointelegraph is joined by crypto analyst Naeem Aslam, and the CEO of Tokenmetrics Ian Balina to debate the impression of the coronavirus on the cryptocurrency markets.
Will the financial impacts of the coronavirus depart individuals flocking to cryptocurrencies as a protected haven?
Naeem Aslam is skeptical of Bitcoin’s purported ‘protected haven’ standing, emphasizing that Bitcoin is a haven from central financial institution financial coverage, and never infectious ailments:
“I feel once we discuss Bitcoin as a protected haven asset, we’re actually speaking about in relation to central banks and their financial insurance policies. Proper now, we do not have that worry out there proper now. The worry out there is about affect of coronavirus […] when we now have one thing going unsuitable with the financial coverage, then, sure, we might see the momentum coming in as a result of clearly Bitcoin your complete fundamentals base towards the standard financial coverage that the central banks are operating.”
Ian Balina rejected the suggestion that crypto and coronavirus are correlated, stating:
“We personally do not make investments or commerce on particular occasions […] the coronavirus has not proven to be correlated evaluation with Bitcoin or crypto on the whole. So as a result of Bitcoin is a world asset class with quite a few international occasions taking place in tandem and it is very arduous to pinpoint one explicit occasion as being the catalyst, I feel maybe not directly the equities markets having an enormous selloff the place over 1.7 trillion {dollars} was misplaced in just a few days and I feel crypto may very well be actually simply taking part in off of that.”
The pair additionally share their long-term outlooks for the crypto markets, the possible impression of the upcoming halving, and whether or not Ethereum will surpass Bitcoin by market cap within the subsequent ten years. Don’t miss it!
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