The expert says that bitcoin can protect investors from losses
Validus Power Corp top manager Greg Foss said that investing in real estate, cryptocurrency and gold can protect investors from the risks associated with a banking crisis. According to the expert, there is at least $10 trillion of bank capital all over the world, but it could disappear if the financial system fails.
Foss is confident that investors should focus on “hard assets”, among which he named bitcoin. At the same time, the expert does not recommend getting rid of gold to buy BTC, suggesting instead to sell securities.
“If a person does not have bitcoins, he takes on big risks of losing what he has accumulated. Bitcoin is a free and open market, while the fiat currency market is manipulated by puppeteers like Jerome Powell,” Foss said.
Meanwhile, cryptanalyst and blogger Jason believes that unfavorable news on the crypto market is not able to stop the growth of the first crypto coin. According to him, BTC is still relevant — despite the possibility of a recession and a banking crisis.
“Bitcoin has been trading above $25,000 for almost two months. With all the bad news that we have seen in the market, nothing will stop BTC from reaching $30,000, $40,000, maybe even $50,000 this year… Even the stock markets are leaving bad news, bad fundamentals, possibility of a recession, nasty interest rates, banking crashes aside, setting new yearly highs,” Pizzino said.
According to him, those who wish to purchase cryptocurrency at a better price are likely to be left with nothing. Pizzino believes that after bitcoin “survived the beginning of the year with a lot of bearish signals”, the value of the crypto coin should be around $32,000-$42,000.
“If people expect lower prices, then the market tells us: now they will not be. Even a strong bearish signal did not work, as was the case with $19,500. The collapse of Silicon Valley bank did not work, and then Credit Suisse, and even Deutsche Bank. This means that the market will go up in the micro and macro perspectives. What can happen? Maybe we will exceed $32,000, maybe $34,000, maybe $42,000, we’ll see,” the blogger summed up.
