Cryptocurrency

Cardano

Bitcoin

David

<div class="finbold">
 <p class="paragraph">Bitcoin (BTC) is trying to regain its footing after a sharp decline in price in 2022, with a notable uptrend year-to-date, now trading in a range between $20,000 and $30,000 for the past several months.</p>
 <div></div>
 <p class="paragraph">In the meantime, a series of institutional developments and macroeconomics have created “the perfect storm” for Bitcoin to break out of this consolidation range, according to the financial expert Dave Weisberger, CEO of <em>CoinRoutes</em>, in an interview for David Lin’s YouTube channel on October 19.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“We are seeing <a rel="noopener noreferrer nofollow" title="perfect" href="https://thebittimes.com/tag/perfect.html">perfect</a> <a rel="noopener noreferrer nofollow" title="literal" href="https://thebittimes.com/tag/literal.html">literal</a> <a rel="noopener noreferrer nofollow" title="perfect" href="https://thebittimes.com/tag/perfect.html">perfect</a> <a rel="noopener noreferrer nofollow" title="storm" href="https://thebittimes.com/tag/storm.html">storm</a> conditions for Bitcoin. It’s a hedge against the trusted institutions.”</p> <cite>— Dave Weisberger (00:03:30)</cite>
 </blockquote>
 <p class="paragraph">Weisberger cited a number of factors for this <a rel="noopener noreferrer nofollow" title="perfect" href="https://thebittimes.com/tag/perfect.html">perfect</a> <a rel="noopener noreferrer nofollow" title="storm" href="https://thebittimes.com/tag/storm.html">storm</a> that is <a rel="noopener noreferrer nofollow" title="brewing" href="https://thebittimes.com/tag/brewing.html">brewing</a> for Bitcoin, including</p>
 <ul>
  <li>The ongoing mistrust of trusted institutions, such as banks and governments.</li>
  <li>The current macro environment, characterized by rising interest rates and inflation.</li>
  <li>The growing institutional adoption of Bitcoin.</li>
 </ul>
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 <p class="paragraph">The <em>CoinRoutes</em> CEO believes that these factors will combine to drive up the price of Bitcoin in the long term. However, he also noted that Bitcoin is still a volatile asset and that its price could fluctuate significantly in the short term.</p>
 <p class="paragraph">At one moment in the interview, Weisberger said that the block subsidy halving could have an impact on prices next year.</p>
 <h2 class="wp-block-heading" id="h-is-bitcoin-a-risk-on-or-risk-off-asset">Is Bitcoin a risk-on or risk-off asset?</h2>
 <p class="paragraph">Dave Weisberger also discussed whether Bitcoin is a risk-on or risk-off asset. He said that Bitcoin has historically been a risk-on asset, meaning that it tends to move in tandem with other risky assets, such as stocks.</p>
 <p class="paragraph">However, he believes that the leading cryptocurrency is becoming more of a risk-off asset over the years, meaning that it is seen as a safe haven during times of economic turmoil.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“Long term it’s a risk-off play with enormous asymmetric upside.”</p> <cite>— Dave Weisberger (00:04:45)</cite>
 </blockquote>
 <p class="paragraph">With this saying, Weisberger shows a bullish bias on Bitcoin in the long term. He believes that Bitcoin is the future of money and that it will eventually be used as a global currency. The financial <a rel="noopener noreferrer nofollow" title="expert" href="https://thebittimes.com/tag/expert.html">expert</a> also believes that Bitcoin will eventually surpass gold in value at one point.</p>
 <p class="paragraph">Interestingly, Dave urged investors to avoid “crowded trades”, by just following what the majority of the market was doing.</p>
 <blockquote class="wp-block-quote">
  <p class="paragraph">“I don’t like crowded trades. Crowded trades always concern me and I always give people advice that if you’re following the entirety of the herd because you hear everybody is doing ‘x’, probably ‘x’ is not the right thing to do.”</p> <cite>— Dave Weisberger (00:03:03)</cite>
 </blockquote>
 <p class="paragraph">However, despite his bullish bias, he also noted that Bitcoin is still a relatively new asset class and that it is important for investors to do their own research and understand what they are putting their money at before investing.</p>
 <p class="paragraph"><strong>Watch the interview with Dave Weisberger:</strong></p>
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  <div class="wp-block-embed__wrapper"><iframe loading="lazy" title="The Economy Created 'Perfect Storm' For This Asset | Dave Weisberger" width="500" height="281" src="https://www.youtube.com/embed/X5dyoPe90wg?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/finance-expert-says-literal-perfect-storm-is-brewing-for-bitcoin-tbt67021.html">https://thebittimes.com/finance-expert-says-literal-perfect-storm-is-brewing-for-bitcoin-tbt67021.html</a></p>

Finance expert says ‘literal perfect storm’ is brewing for Bitcoin

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