The chairman of NYDIG called for choosing bitcoin over altcoins
The founder of the New York Digital Investment Group (NYDIG) platform, Ross Stevens, urged participants in the crypto industry to invest exclusively in bitcoin.
“Scams, DeFi hacks and other upheavals continue in the industry. I will repeat my main thesis: do not invest in other cryptocurrencies, only in bitcoin. Do not invest in DeFi if the project does not work with bitcoin. We had opportunities to work with companies like Three Arrows, BlockFi, FTX, Celsius. We are far from perfect, but we stick to our principles. “Life is too short to do anything other than partner with people you like, trust and would be ferociously proud to be together with in a foxhole when the bullets are flying,” said Ross Stevens.
According to Stevens, NYDIG has always been and will always be a “bitcoin company”. He also said that at one time he could enter into cooperation with the bankrupt Three Arrows Capital, Celsius Network, FTX and BlockFi. Stevens recalled the opportunity to invest in “profitable” cryptocurrency projects, which at some point turned out to be extremely profitable, but in general were “doomed to fail.”
The founder of the project and Crypto Shaman trader Vadim Shovku ruled out the growth of bitcoin in the near future. On November 9, the price of bitcoin hit a low of $15,500.
The fear and greed index stopped at 21, which is considered a very adequate value for a bear market. Bitcoin should stop when the indicator falls below 10.
Already this morning, on November 14, the bitcoin rate rose by $600 in a few minutes and exceeded $16.7 thousand.
It is also known that the Binance exchange will create a relief fund for crypto projects that are strong at the core, but are facing a liquidity crisis, said the head of the platform, Changpeng Zhao, on his Twitter page. In his opinion, the fund will be created in order to reduce the negative impact of the collapse of FTX on the market.
In addition, Binance plans to take the lead in setting global standards for the industry, Zhao said while speaking at a conference in Indonesia, Bloomberg reported. The head of the exchange spoke about the need to increase transparency in the industry and close cooperation with regulators around the world.
