As Crypto Market Sheds Billions, One Analyst Sees Buying Opportunity

The total value of all cryptocurrencies has dropped 11 percent since Saturday, declining from a high of nearly $180 billion to under $160 billion today. 

But that might not be cause for alarm, according to one bullish analyst. 

In fact, Ronnie Moas, the founder of Standpoint Research (known for his prediction that the cryptocurrency asset class will one day be valued in the trillions), contends that the price break is rather the work of larger traders who want to build up even bigger positions in cryptocurrency.

"When people panic and start selling, they are going to come in quietly and start buying again. So it's buying 50,000 then dumping 20,000, for example," he said, adding:

"They are trying to shake people out of the trade – so that they can get their hands on more bitcoin at lower prices."

Full story at http://bit.ly/2wB4MtS

Source: CoinDesk

 

 

 

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