Bitcoin, which diverged negatively from global markets yesterday, continues to trade above $29,000 today.
While US futures remained in negative territory today, eyes were turned to FED minutes to be announced tomorrow.
In an interview with Yahoo Finance today, Mike Sonnenshein, CEO of the largest crypto asset fund Grayscale, talked about the ongoing Bitcoin and crypto asset sales.
Stating that the decline in cryptocurrencies should be handled together with the movements in larger markets, the CEO stated that volatility in different asset classes and crypto has increased due to increasing interest rates in the USA.
This Is Not The Time To Give Up
Expressing that the recent declines did not deter investors, the CEO stated that most of the investors considered the declines as an opportunity.
“Such pullbacks in crypto are not new. From what we’ve heard from investors, the recent deep selling hasn’t made them give up. When a big drop comes, they take it as an opportunity.”
Thinking that Bitcoin is still very new and therefore acting together in existing markets, the CEO said that in the longer term, it will be understood that Bitcoin is unrelated to other asset classes.
“Over the longer term, it will be seen that crypto is unrelated to other asset classes. However, we only have a 10-year trade history yet.”