Stephen Ehrlich says the sell-off in crypto is a knee-jerk reaction

Stephen Ehrlich says the sell-off in crypto is a knee-jerk reaction
фото показано с : invezz.com

2021-11-28 21:15

Voyager Digital founder and CEO Stephen Ehrlich believes the crypto market’s slump is a knee-jerk reaction to what is going on in the market. He shared his sentiments on the market’s performance during an interview on November 6, noting that the current sell-off is a short-term move. He added that the Voyager platform investors have seen investors continue buying crypto despite the bear market.

In the interview, Ehrlich said Voyager Digital investors bought dips in digital assets like Cardano (ADA/USD), Decentraland (MANA/USD), the Voyager platform token, Solana (SOL/USD), Avalanche (AVAX/USD), as well as leading cryptos like Bitcoin (BTC/USD) and Ethereum (ETH/USD). Explaining why investors were injecting money into such coins despite yesterday’s crash, Ehrlich said they are solid platforms in the long term.

Encouraging people to buy crypto, he said the current slump offers an opportunity to invest in leading coins. Ehrlich added that the crypto space has a lot of leverage, especially among institutional investors. However, retail investors are increasingly buying BTC and other cryptos without leverage.

According to him, these investments will see the crypto market rebound just like it did six weeks ago after a crash triggered by China’s crypto ban. However, he believes the crypto space might take a little bit more time to stage a comeback.

Crypto adoption is increasing

Despite being around for well over a decade, Ehrlich said the crypto market is still volatile and is trying to establish itself. Like other crypto proponents, he believes more growth will help the crypto space shed its volatility.

The Voyager Digital founder added that the crypto space would get more adoption during the festive season, with people discussing it over Thanksgiving dinners.

Ehrlich also commented on the progress of the Voyager debit card, saying Voyager Digital has had tremendous amounts of sign-ups and that the firm is just about ready to launch the card. He shared that the card is currently in the pre-registration phase and that over 20% of the company’s clients have already signed up.

On top of this, he disclosed that Voyager Digital acquired Europe-based payment company Coinify, which has seen a massive amount of activity in the past week as people gear up to purchase goods through crypto ahead of the festivities.

While he admits the Voyager debit card will simplify spending crypto, Ehrlich noted that people are currently using the company’s payment rails extensively.

Ehrlich’s interview came after BTC lost around 7% of its value yesterday and traded as low as $53,569.76 (£40,149.72). At the time of writing, the coin has recovered some of these losses to trade at $54,679.32 (£40,981.31).

The post Stephen Ehrlich says the sell-off in crypto is a knee-jerk reaction appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market reaction stephen knee-jerk sell-off ehrlich crypto

Источник: invezz.com

market reaction → Результатов: 87


Фото:

Institutional Buyers May Be Defending Bitcoin from Breaking Below $30,000

Bitcoin has seen a strong rebound today, with bulls defending against a deeper selloff as the crypto neared the lower-$30,000 region overnight Where the entire market heads in the short-term will undoubtedly depend on BTC and its continued reaction to its key near-term support So far, the buying pressure seen between $30,000 and $33,000 has been promising and could indicate that further upside is imminent One on-chain analyst is also noting that this happens to […]

2021-1-14 21:00


Фото:

Analyst: Bitcoin Likely to “Grind Up” to $30,000 as Bulls Take Control

Bitcoin has seen some massive volatility as of late, with the benchmark cryptocurrency remaining stuck below its recently set highs but not seeing any sustained downtrend Its strength seen in the time since it faced a grim rejection at $28,500 has been impressive, invalidating the notion that this is a local top Where the market trends in the mid-term should depend largely on its continued reaction to the resistance that sits around $28,000 A firm […]

2020-12-31 21:00


FinCEN’s Crypto Rule Is The “Definition of Bad Regulation;” Market’s Lack of Reaction Is Bullish

The Financial Crimes Enforcement Network (FinCEN) issued its new proposed rule extending anti-money laundering (AML) regulation to non-custodial wallets on Friday. Under the latest proposed rules, banks and money service businesses that involve exchanges and custodians would be required to keep records and verify the identity of customers transacting greater than $3,000.

2020-12-20 16:23


Фото:

The Future of Altcoins May Depend Entirely on Ethereum’s Reaction to a Key Level

It’s no secret that Ethereum holds heavy influence over the altcoin market, with its price swings and general trend often influencing that of smaller altcoins Where they trend in the near-term may largely depend on Ethereum’s reaction to $600, as this has long been a key level for the cryptocurrency that has hampered its growth Breaks above here have been fleeting, with sellers largely controlling the region between $600 and $620 A firm break above […]

2020-12-16 00:30


Ethereum Erases Recent Losses as Analysts Eye Move to $800 Next

Ethereum and the entire crypto market are showing immense signs of strength today This comes as investors pour money into the market at a rapid pace, with Bitcoin rapidly approaching its all-time highs This rebound comes close on the heels of a sharp selloff that led ETH to $490 and BTC to $16,400 Where the market trends next will undoubtedly depend on Bitcoin’s continued reaction to the resistance sitting in the mid-$19,000 region Any strong […]

2020-12-1 23:00


Bitcoin Reaches a Critical Junction; What Analysts are Watching For

It has been a wild past few weeks for Bitcoin and the crypto market, with the benchmark cryptocurrency posting massive gains while the rest of the market also shows continuous signs of strength Altcoins are beginning to take the spotlight as BTC’s rally begins stalling, with the selling pressure at $19,000 slowing its ascent while Ethereum and smaller altcoins all rocket higher Where BTC trends in the near-term will depend entirely on its continued reaction […]

2020-11-22 22:00


Фото:

Ethereum Fails to Post Bullish Monthly Close, Opening the Gates for Downside

Ethereum’s trend of underperformance against Bitcoin has persisted and is showing few signs of changing anytime soon The cryptocurrency has been unable to match the strength seen by BTC over the past few weeks, and it is still trading below its key $400 resistance level Where it trends in the near-term depends largely on Bitcoin’s reaction to $14,000, as a break above this level could send the entire market flying higher One analyst is now […]

2020-11-1 22:00


Bitcoin Just Posted Its First Weekly Close Above $11,700 Since 2018

Bitcoin and the aggregated crypto market have remained stable overnight, with bulls attempting to spark another uptrend The benchmark cryptocurrency is once again pushing up towards its long-held resistance around $13,200 If this level is shattered in the near-term, BTC could gain some serious traction that causes its price to rocket higher Where the market trends next will undoubtedly depend somewhat on BTC’s reaction to this level One factor currently working in buyers’ favor is […]

2020-10-26 21:00


Bitcoin’s Market Structure Indicates a Massive Move Higher is on the Horizon

Bitcoin and the entire crypto market are once again consolidating following the latest push higher, with bulls being unable to firmly push BTC over any key levels The cryptocurrency is incurring mounting technical strength, however, which comes as it stabilizes around $11,500 Where the market trends next will likely depend on the cryptocurrency’s continued reaction to its $11,600 resistance If broken above, this level may ignite a massive BTC rally that sends it past $12,000 […]

2020-10-13 21:00


Фото:

Ethereum to Hit $240 as Analysts Claim Market Structure Looks “Abysmal”

Ethereum’s price action has been strikingly similar to that of Bitcoin, and the crypto has been unable to garner any independent momentum This has led ETH to consolidate between $340 and $360 throughout the past couple of days Its reaction to any signs of weakness from BTC has been quite pronounced, which could mean that it will see an extreme reaction to any Bitcoin downturn Analysts are now noting that Ethereum’s market structure looks “abysmal” […]

2020-10-8 23:00


Фото:

Demand for Ethereum Boosts Market Structure; Will This Propel ETH Higher?

Although Bitcoin’s reaction to $11,000 sparked a slightly harsh rejection, Ethereum’s price has remained rather stable around its $380 resistance level This resistance has held strong on multiple occasions throughout the past few days and weeks, with rejections here catalyzing some of ETH’s largest declines The importance of this level cannot be understated, but whether or not it is broken may depend largely on Bitcoin’s continued reaction to $11,000 Analysts are noting that ETH does […]

2020-9-18 23:00


Фото:

Ethereum’s Market Structure Weakens as Bulls Fail to Break Key Resistance

Ethereum’s overnight price action has done little to offer insight into its near-term trend, as the cryptocurrency has been unable to maintain its recent momentum This, however, has not resulted in it seeing any type of sharp decline, with its rejection at $380 kicking off a consolidation phase Analysts believe that where the cryptocurrency trends next depends wholly on its reaction to one vital resistance level that has been suppressing its price action This resistance […]

2020-9-12 23:00


Фото:

Ethereum Posts Strong Reaction to Key Support Level, But Risk of Downside Remains

Ethereum and the entire crypto market saw a sharp selloff overnight that caused ETH and most other major altcoins to erase their recent gains This selling pressure struck a lethal blow to the uptrends seen by both major and minor altcoins alike That being said, Ethereum and Bitcoin have both been able to remain above multiple key support levels As such, analysts are noting that bulls may be firmly in control, and may help guide […]

2020-9-3 23:00


Фото:

Ethereum’s Reaction to This Crucial Support Level Will Determine its Fate in 2020

Ethereum has seen some lackluster price action in recent times, largely facing sideways trading similar to that incurred by Bitcoin and the entire crypto market It has posted some signs of weakness throughout the past several hours due to it dipping below its well-established trading range This has led it down to what analysts are describing as a “crucial level,” and its reaction here could determine its fate in the months ahead One venture capitalist […]

2020-6-21 22:00


Фото:

Bitcoin Buyers Defend Crucial Support Level, Boosting the Bull Case

Bitcoin and the aggregated cryptocurrency market have been caught in the throes of an unrelenting consolidation phase over the past few weeks This has muddied the clarity that many analysts previously had regarding the strength of the market’s multi-week uptrend It does appear that buyers got a much-needed boost overnight, however, as bulls were able to post a potent reaction to its key support Analysts are now eyeing a few key factors for insight into […]

2020-6-20 21:00


Фото:

Are Central Bank Policies Causing the Cryptocurrency Pump?

Recent price action across the cryptocurrency market has seen certain coins almost double in value and Bitcoin come back towards a bullish trend. There are a few theories as to what has sparked this turnaround, but could it be a reaction to central bank policies? Fears over a potential global recession have been heightened in the last […] The post Are Central Bank Policies Causing the Cryptocurrency Pump? appeared first on BeInCrypto.

2020-1-16 09:01


MoonTrader ICO

MoonTrader team has developed and is supporting the trading terminal (MoonBot - moon-bot. com) which was introduced in October 3, 2017. Currently, the performance of MoonBot surpasses that of most existing trading systems as a result of its advanced functionality and the high security features designed to protect your trading activities.

2019-6-13 21:03


дальше еще 38 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is Bitcoin the next asset to catch up with the rally?

Quick Take As economic uncertainty looms, traditional safe-haven assets like gold, silver, and copper are soaring to new heights. Gold recently hit a new all-time high of $2,443 an ounce, up nearly 20% year-to-date.

Solana hits $175, faces pullback: What's next for SOL?

Solana’s price increased by more than 20% in the last seven days.  If the bull rally resumes, then SOL might go above $180. Solana [SOL] managed to reclaim $175 on the 18th of May, but itThe post Solana hits $175, faces pullback: What's next for SOL? appeared first on AMBCrypto.

How Bitcoin can help Solana rise to a new ATH

A 0.75 correlation coefficient showed Solana’s movements closely align with Bitcoin’s price. Negative sentiment around BTC and SOL could hinder immediate price gains. Solana's [SOL] pricThe post How Bitcoin can help Solana rise to a new ATH appeared first on AMBCrypto.