Scott Melker, a cryptocurrency trader and investor dubbed "The Wolf of All Streets", said on the X platform: "For the cryptocurrency industry, there are only tailwinds [that is, there are only positives]. Although the price has not yet reacted to this, it is likely to be a bad decision to be pessimistic for a long time now."
Matt Hougan, chief investment officer at Bitwise, commented: "I agree, but in a slightly different way. The crypto market faces several short-term, negative and non-cyclical headwinds: Mt. Gox, the US government sell-off, etc. But there are also several long-term, large and significant tailwinds: ETF inflows, court victories, improved infrastructure, and the Lindy effect (the longer the life of a technology or idea, the more likely it is to persist in the future). These short-term, non-cyclical headwinds are weighing on prices. This is a boon for long-term investors."
Bitwise CIO: Crypto market faces short-term headwinds, but there are multiple long-term and significant tailwinds
2024-06-28 15:49:18
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