"NO CRYING IN THE CASINO"
While this expression may sound a little odd to some people when used in the context of investing or trading Cryptocurrency, as strange as this may sound,it's actually the truth. While Cryptocurrency today is generally considered as a new emerging asset class with room for an exponential growth in the future, its best if treated with extra caution .
Of course every asset class is subject to some kind of manipulation and volatility. However, while some are less volatile ,others tend to be heavily manipulated and as a result very volatile .
If for instance we take a look at asset classes like Indices e.g Nasdaq and S&P or commodities like gold and silver, they may be volatile in their own way but you can never see them crashing down to 90 percent of their value in a year not to talk of just a single day. infact they hardly drop to 20 percent of their value(unless its a Black Swan event which may take decades or centuries to occur).
However when talk of our dear own Cryptocurrency, this literally happened on a daily basis. it is even normal in crypto to see a coin worth billions of dollars crashed to zero. like we are not even surprised anymore. Remember what happened to Luna and a lot of others that follow suit .
Finally ,in as much as i don't like to admit it but Crypto need to be treated with as much caution akin to betting. One needs to have at the back of his mind that no matter how fundamentally perfect the use cases or how strong the team behind a token might appear to be, it will not stop it from nuking to 90 percent of its value( as you could observed from what happened on Friday 10th, October) or even in an unfortunate scenario crashed to Zero.
#PowellRemarks #MarketPullback #CryptoMarketAnalysis
While this expression may sound a little odd to some people when used in the context of investing or trading Cryptocurrency, as strange as this may sound,it's actually the truth. While Cryptocurrency today is generally considered as a new emerging asset class with room for an exponential growth in the future, its best if treated with extra caution .
Of course every asset class is subject to some kind of manipulation and volatility. However, while some are less volatile ,others tend to be heavily manipulated and as a result very volatile .
If for instance we take a look at asset classes like Indices e.g Nasdaq and S&P or commodities like gold and silver, they may be volatile in their own way but you can never see them crashing down to 90 percent of their value in a year not to talk of just a single day. infact they hardly drop to 20 percent of their value(unless its a Black Swan event which may take decades or centuries to occur).
However when talk of our dear own Cryptocurrency, this literally happened on a daily basis. it is even normal in crypto to see a coin worth billions of dollars crashed to zero. like we are not even surprised anymore. Remember what happened to Luna and a lot of others that follow suit .
Finally ,in as much as i don't like to admit it but Crypto need to be treated with as much caution akin to betting. One needs to have at the back of his mind that no matter how fundamentally perfect the use cases or how strong the team behind a token might appear to be, it will not stop it from nuking to 90 percent of its value( as you could observed from what happened on Friday 10th, October) or even in an unfortunate scenario crashed to Zero.
#PowellRemarks #MarketPullback #CryptoMarketAnalysis