Skybridge founder advises how to survive crypto bear market – ‘We’re in the bloodstream’ – Bitcoin News Markets and Prices

Skybridge founder advises how to survive crypto bear market – ‘We’re in the bloodstream’ – Bitcoin News Markets and Prices

Anthony Scaramucci, founder of Skybridge Capital, a $ 3.5 billion asset management company, has some tips for crypto investors on how to survive the bear market and crypto bloodshed.

Scaramucci on how to survive the crypto bear market

Skybridge Capital founder Anthony Scaramucci shared his vision of bitcoin and tips on how to survive the crypto market sell-off in an interview with CNBC on Monday.

“We are in bloodshed,” he said. “This is my eighth bear market. I expect to survive this one too. ” Scaramucci said:

I am encouraged by the fact that bitcoin is currently above 50% of the total crypto market capitalization, which is another sign that there is a flight towards quality.

“Of course, Celsius is putting pressure on him – in the same way that the situation with LUNA terra put pressure on him about six weeks ago,” he continued.

The cryptocurrency platform Celsius announced on Sunday night that it had frozen payments while cryptocurrencies terra (LUNA) and stabilcoin terrausd (UST) exploded in early May.

Skybridge CEO went on to give some advice to investors to help them survive in the crypto bear market. He began by recommending that people “stay without leverage, but stick to their long-term investment disciplines.”

Scaramucci described: “Everyone has a long-term perspective until they experience short-term losses … then they start burning their hair and running in a circle.” He said:

I just warn people to buy quality and to be immoderate and disciplined.

He added that investors should “recognize that bear markets are happening”, adding that “they probably happen every five years if you look at the last 120 years”. He noted: “If you stay disciplined during those periods, you become very rich, and I think that’s a message for investors.”

Scaramucci was particularly asked if staying disciplined means buying in a fallen market like what is happening on Monday.

He replied:

I certainly think so. In addition to the incremental money coming into our fund, we bought more bitcoin and ethereum.

He added that his company has a private stake in the FTX cryptocurrency exchange, noting: “FTX works very well. It’s gaining market share, and it’s a profitable company. “

The executive is of the opinion, “Truth be told, people will look back on this debacle and say I wish I had fresh cash to buy it.”

Commenting on the collapse of some coins such as LUNA and UST, Scaramucci noted: “There are over 8,000 coins … Many of these projects will be traded at zero. There will be five to 15 coins that we think will be used in the future. ” He emphasized:

Of course, many of these coins will be erased.

What do you think of Anthony Scaramucci’s advice? Let us know in the comments section below.

Skybridge founder advises how to survive crypto bear market – ‘We’re in the bloodstream’ – Bitcoin News Markets and Prices

Kevin Helms

A student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in the security of Bitcoin, open source systems, network effects and the crossroads between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by the use or reliance on any of the content, goods or services mentioned in this article.

(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src=”https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v3.2″;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));



Source link

Leave a Reply