Bitcoin shows strength, but conviction-based investing is declining fast
Speculative capital dominates crypto as long-term investors exit or seek quick gains
BTC price action and signals suggest potential climb toward $100K amid strong demand
Bitcoin continues to climb, gaining over 10% in the past week. Yet beneath the surface, a deeper transformation is underway in the crypto market. As observed by Ki-Young Ju, CEO of CryptoQuant, the era of value-driven investment seems to have faded.
He observes that since 2018, many original long-term crypto believers have either left the market or shifted to seeking short-term profits.
https://twitter.com/ki_young_ju/status/1912491882028102127
The focus now, Ju argues, involves fast, speculative capital chasing quick returns across a volatile landscape, with potentially less commitment to the long-term vision for many projects beyond Bitcoin itself.
Related: This Bitcoin 2016 Fractal Could Send XRP Price Towards $6: Analysis
Ki-Young Ju: Has Crypto Investing Shifted From Conviction to Speculation?
Ju points out that over the years, Web3 projects have struggled to achieve meaningful adoption. Consequen…
The post CryptoQuant CEO: Crypto Market Now Favors Speculation Over Conviction appeared first on Coin Edition.
