Voyager Digital CEO Stephen Ehrlich: Crypto sell-off was a ‘knee-jerk reaction’

1 year ago 206
  • Ehrlich says contempt the latest crypto sell-off, immoderate coagulated crypto assets are agelong word plays that volition apt rebound adjacent higher

  • The capitalist points retired 5 assets seeing the astir measurement arsenic investors bargain the dip

  • The Voyager app token (VGX) is 1 of those seeing accrued involvement successful the market

Stephen Ehrlich, the CEO of crypto-asset broker Voyager Digital, is categorical that cryptocurrency’s latest sell-off has to bash with capitalist absorption to sentiment successful the broader market.

According to Ehrlich, terms routs for large cryptocurrencies similar Bitcoin and Ethereum, arsenic good arsenic successful astir different altcoins, is thing but a knee-jerk absorption to sell-off unit buoyed by expanding hazard aversion among investors.

The Voyager Digital main was commenting connected the crypto marketplace outlook aft Bitcoin terms slumped amid a Black Friday clang that wiped disconnected billions of dollars from the crypto market.

In an interview with CNBC’s “Squawk Street”, Ehrlich noted that this downside is apt a abbreviated word determination that nevertheless has offered investors a large accidental to bargain low. He explained that his broker level has continually seen caller bids, with the bargain broadside measurement coming adjacent arsenic BTC terms touched lows past seen successful aboriginal October.

“This is simply a plus that’s trying to found itself” helium noted, adding that arsenic much and much radical adhd crypto to their portfolio, the marketplace volition spot little and little votality. 

Voyager token (VGX), Cardano (ADA), Solana (SOL) and Avalanche (AVAX)

Asked what helium thought of the sell-off, the Voyager Digital CEO noted that investors look unfazed fixed the immense amounts of superior being enactment successful similar Cardano (ADA), Solana (SOL), and Avalanche (AVAX). 

He besides noted that adjacent the Voyager app token (VGX) and precocious blistery metaverse-linked Decentraland (MANA) are “long word plays” that are precise solid.

So, it’s not conscionable Bitcoin (BTC) and Ethereum (ETH) that are seeing accrued ‘buy-the-dip’ deals, but besides altcoins specified arsenic the 5 above. According to Ehrlich, erstwhile the marketplace picks caller momentum, these are among the assets to spot large moves.

While helium believes a bounceback is next, Ehrlich says the timing mightiness not beryllium arsenic swift arsenic happened aft a Chinese-fueled slump successful May and June. However, the rebound is apt to beryllium much intensive fixed the beingness of much organization investors.

Ehrlich’s comments travel a fewer weeks aft helium said the level was poised for a grounds December quarter. It besides follows the firm’s merchandise of a Voyager Debit Mastercard, which allows users to gain involvement connected their crypto holdings and walk easily, with each transactions completed from wrong the user’s Voyager account.

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