As crypto goes most investors have a very strong buy and hold strategy so when you are up 1200% with a basket of cryptos a 40% pull back is looked at as just another buying opportunity.
What can you make of this?
“The reduction in liquidity from the Fed will cause both the equity risk premium and interest rates to rise, which will continue to disproportionately impact the riskiest assets... particularly cryptocurrencies, which have no intrinsic value,” according to Jay Hatfield, portfolio manager at Infrastructure Capital Advisors.
Yep. The crypto market is subject to large fluctuations. It always has been yet over time it has steadily risen faster than any other asset class. His claim that it’s all just speculation is laughably ignorant.