In as we speak’s crypto market dialogue, Cointelegraph is joined by crypto analyst Naeem Aslam, and the CEO of Tokenmetrics Ian Balina to debate t
In as we speak’s crypto market dialogue, Cointelegraph is joined by crypto analyst Naeem Aslam, and the CEO of Tokenmetrics Ian Balina to debate the influence of the coronavirus on the cryptocurrency markets.
Will the economic impacts of the coronavirus depart individuals flocking to cryptocurrencies as a secure haven?
Naeem Aslam is skeptical of Bitcoin’s purported ‘secure haven’ standing, emphasizing that Bitcoin is a haven from central financial institution financial coverage, and never infectious illnesses:
“I believe after we discuss Bitcoin as a secure 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’ve one thing going flawed with the financial coverage, then, sure, we may see the momentum coming in as a result of clearly Bitcoin the complete fundamentals base towards the standard financial coverage that the central banks are working.”
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 basically. So as a result of Bitcoin is a world asset class with quite a few international occasions occurring in tandem and it’s totally arduous to pinpoint one specific occasion as being the catalyst, I believe 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 believe crypto might be actually simply enjoying off of that.”
The pair additionally share their long-term outlooks for the crypto markets, the possible influence of the upcoming halving, and whether or not Ethereum will surpass Bitcoin by market cap within the subsequent ten years. Don’t miss it!