Simon Peters, an expert analyst in crypto assets from the multi-asset investment platform eToro, has shared with Cointelegraph en Español some comments on the situation of the crypto assets market, addressing the discussion about whether or not it is a good time to buy cryptocurrencies.
First of all, Peter talked about the price of Bitcoin and Ether, the former registered strong volatility last week and after moving away from $20,000 with a drop below $15,700, he found more stability around $16,000. this morning.
For its part, the price of Ether also experienced volatility throughout the past week, the cryptoactive fell throughout the week to settle again around $1,175.
Is it time to buy bitcoin? panther says yes
Recent market volatility has seen the price of major crypto assets such as Bitcoin fall to lows not seen in about two years and well below all-time highs of 12 months ago.
According to Peter, for investors wondering if now is the time to buy, there are a few things to keep in mind. One of them is to look at what is happening with institutional investors, to see how they are positioning themselves in current conditions.
“If you look at a major Bitcoin investment vehicle, like Grayscale, the NAV discount is now around 43%. This means that the fund is heavily oversold, and anyone buying it now is getting a 43% discount on the value of the assets they own.”Peter commented, before noting that Pantera, another of Bitcoin’s major institutional players, has bought more Bitcoin as the price has fallen.
“The fund announced over the weekend that it was going to buy another $140 million of the crypto asset, signaling to the markets that it sees a quality entry point in price right now.”he added.
The White House raises the regulation of crypto assets after the G20
To close, another point that Peter touched on was the regulatory one, because according to what he says among the variety of objectives discussed at the G20 summit, one of them seems to have been the union of an approach to the regulation of crypto assets, one of them. It should be noted that in a statement published by the White House, Joe Biden has stated that the G20 countries have committed to a “robust regulation, supervision and surveillance” of these assets.
In this sense, The White House also said that it welcomes the proposal of the Financial Stability Board (FSB) to establish a complete international framework for its regulation.
“The announcement comes at a critical juncture for the sector, with calls for increased regulatory oversight growing in most major countries. While this process appears to be underway, more coordinated efforts among major nations could soon see significant changes in the international environment.”Peters said…
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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