As markets tumble on rising tensions in Eastern Europe, Dr. Raullen Chai, co-founder and CEO of the IoTeX blockchain network, urged crypto investors to stay true to their crypto. go
The Russian Army has just begun to attack Ukraine. By firing missiles at it and causing the crypto market to crash. All leading coins fell between 8% and 18%. However, despite current market conditions, Chai urges holders to think twice before selling their digital assets.
Chai said that even if Bitcoin (BTC) falls below $10,000 and Ethereum (ETH) drops below $800, the market can “Easily set a new all-time record by the end of the year,” he explained.
“Of course I don’t encourage investors to sell their crypto right now. in hopes of repurchasing it at a lower price. Because no one knows when we will hit the bottom and when the market will recover again.”
However, Chai identifies factors that can drive the crypto market down further. The IoTeX co-founder said the Russian aggression, combined with higher interest rates and the prospect of a new form of COVID-19, could have a negative impact on the market in the short term.
meanwhile A recent report from hedge fund Pantera Capital shows that Bitcoin is currently relatively inexpensive. Noting that a number of factors could affect the next increase. According to Pantera, bond market alarms and negative real rates could give Bitcoin the fuel it needs to recover its uptrend.
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