In right now's crypto market dialogue, Cointelegraph is joined by crypto analyst Naeem Aslam, and the CEO of Tokenmetrics Ian Balina to debate the affect of the coronavirus on the cryptocurrency markets.
Will the business enterprise impacts of the coronavirus go away individuals flocking to cryptocurrencies as a secure haven?
Naeem Aslam is skeptical of Bitcoin's acknowledged 'safe haven' standing, accenting that Bitcoin is a haven from central business enterprise institution business enterprise coverage, and ne'er infectious illnesses:
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"I think when we talk about Bitcoin as a safe haven plus, we're really talking about in relation to central Banks and their medium of exchange policies. Right now, we don't have that fear in the market right now. The fear in the market is about influence of coronavirus [...] when we have something going wrong with the medium of exchange insurance, then, yes, we could see the impulse coming in because plainly Bitcoin the entire bedroc base against the traditional medium of exchange insurance that the central Banks are running."
Ian Balina rejected the suggestion that crypto and coronavirus are connate, stating:
"We in person don't invest or trade on specific events [...] the coronavirus has not shown to be connate analysis with Bitcoin or crypto in general. So because Bitcoin is a global plus class with many global events happening tandem and it's very hard to pinpoint one particular event as being the catalyst, I think maybe indirectly the equities markets having a huge selloff where over 1.7 trillion dollars was lost in few days and I think crypto could be really just performin off of that."
The pair additionally share their long-term outlooks for the crypto markets, the possible affect of the future halving, and whether or not Ethereum will surpass Bitcoin by market cap inside the sequent ten years. Don't miss it!
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