Ehrlich Says Despite Latest Crypto Sell Some Strong Crypto Assets Are Long-Term Games That Will Likely To Bounce Even Higher
Investor points to five assets with the most volume as investors buy downside
Voyager App Token (VGX) Is Among Those Gaining Increased Market Interest
Stephen Ehrlich, CEO of crypto-asset broker Voyager Digital, is adamant that the latest cryptocurrency sell-off has to do with investors’ reaction to sentiment in the broader market.
According to Ehrlich, the price routs of major cryptocurrencies like Bitcoin and Ethereum, as well as in most other altcoins, are nothing more than a knee-jerk reaction to selling pressure backed by growing risk aversion. investors.
The head of Voyager Digital was commenting on the outlook for the crypto market after the Bitcoin price fell amid a Black Friday crash that wiped out billions of dollars in the crypto market.
In a maintenance with CNBC “Scream Street“, Ehrlich noted that this downside is probably a short-term move that has nonetheless offered investors a great opportunity to buy low. He explained that his broker platform has continually seen new offers, with volume on the side. purchase ahead even as BTC price touched lows last seen in early October.
“This is an asset that is trying to establish itself,” he noted, adding that as more and more people add crypto to their wallets, the market will see less and less votality. .
Voyager (VGX), Cardano (ADA), Solana (SOL) and Avalanche (AVAX) tokens
When asked what he thought of the sale, the CEO of Voyager Digital noted that investors seemed unfazed given the huge amounts of capital invested like Cardano (ADA), Solana (SOL) and Avalanche (AVAX). .
He also noted that even the Voyager App Token (VGX) and Decentraland recently linked to the Metaverse (MANA) are “long-term games” which are very solid.
So, it’s not just Bitcoin (BTC) and Ethereum (ETH) that are seeing an increase in downside bid bids, but also altcoins such as the five above. According to Ehrlich, once the market gains new momentum, these are among the assets to see major moves.
While he believes a rebound is next, Ehrlich says the timing may not be as quick as it did after a China-fueled crisis in May and June. However, the rebound should be more intense given the presence of a larger number of institutional investors.
Ehrlich’s comments come weeks after he noted the platform was ready for a record quarter in December. It also follows the company’s release of a Voyager Mastercard debit card, which allows users to earn interest on their crypto holdings and spend easily, with all transactions being made from the user’s Voyager account. .