Bitcoin (BTC) Confession from Famous Economist El-Erian! “I Sold My Bitcoins Early!”

Allianz’s chief economic adviser, Mohamed El-Erian, made striking statements about Bitcoin in an interview with CNBC reporter Dan Murphy.

Saying that he bought some Bitcoin from $ 3,000 in 2018, which is called the crypto winter, Mohamed El-Erian announced that he sold his Bitcoins.

The famous Economist admitted that he misjudged when to sell his Bitcoins due to behavioral mistakes and sold at $ 60,000.

Mohamed El-Erian in an interview “I felt compelled to buy Bitcoin and finally I did.” said.

Erian stated that he did not sell his BTCs until the end of 2020, when the levels of $ 19,000 were seen, and then Bitcoin started a bull rally that went up to $ 60,000.

Saying that the $60,000 level is wrong to sell, Mohamed El-Erian continued by stating that he actually thinks the Bitcoin bull rally has just begun:

“You really don’t want to ask me about Bitcoin’s price assessment. Because I don’t quite understand why $60,000 instead of $68,000 is the right level.”

Thinking of Entering the Crypto Market Again!

The economist said that he will consider entering the cryptocurrency market again when short-term traders or speculators exit the market due to negative price movements.

Mohamed El-Erian stated that although he thinks cryptocurrencies are a destructive force, there is no global currency that can rival the US dollar.

“I think cryptocurrencies will always exist in the ecosystem. But it will not be a global currency. It will not replace the dollar.”

The famous economist finally said that China is advancing in digital currency and Blockchain technology, warning that China may surpass the USA and countries in the West.

*Not investment advice.

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