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Faced with the market capitalism the CEO of the giant of the multi-asset trading eToro spoke positively on the mid-year correction and claims that the demand for Bitcoin has not diminished.
Making comments in an exclusive interview with NewsBTC, Yoni Assia suggested that Bitcoin's current tone will lay the groundwork for long-term growth through the cryptocurrency market. He said:
"In our opinion, the recent market correction is positive for the long-term development of the market.The Cryptoassets are still a relatively nascent market, emerging technologies like this often see oscillations in their value in the early days . "
Hessen's views have been taken over by a series of major exchanges, many of whom predicted a more utopian market despite the recent crisis
At the beginning of this month, Coinbase CEO Brian Armstrong explained the current price action as a "series of bubbles and corrections". In Hesse's eyes, such cycles seem to determine a more favorable market conditions. The eToro executive explained:
"Market adjustments like the ones we have experienced recently help to stabilize prices and make the sector stronger, despite these adjustments, however, we have not seen a significant fall in demand for digital assets. "
eToro – which offers various assets including stocks, commodities, ETFs and cryptocurrencies to supposedly more than 6 million traders – appears to be procuring an appetite increase for crypto-assets, having just increased the number of 12-transaction tokens with the addition of IOTA:
We are pleased to inform you that our selection of cryptocurrencies continues to expand, and IOTA is now LIVE on eToro. #newasset #cryptocurrency #IOTA
– eToro (@eToro) 20 August 2018
The transnational corporation also published an unexpected bullish research report on Litecoin, in which it describes LTC, the seventh largest cryptocurrency of market capitalization as in a "huge discount for what should be valid. "
Despite the decidedly lackluster tone of the market, the seemingly bullish eToro cryptocurrency (19459031) may read that changes are underway. For many, a multi-asset trading platform such as eToro will represent the proverbial tip of the iceberg; the constant migration of capital from traditional $ 1 trillion dollar cryptocurrency investment vehicles.
Cover photo by Daniel Funes Fuentes on Unsplash
Disclaimer: The opinions of our writers are exclusively their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate approve any projects that may be mentioned or linked in this article. Buying and exchanging cryptocurrencies should be considered a high-risk activity. Please do your due diligence before taking any action related to the contents of this article. Finally, CryptoSlate assumes no responsibility in case of loss of money by trading cryptocurrencies.
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Author
Jonnie Emsley
Jonnie Emsley is a freelance writer and a blockchain writer based in Ho Chi Minh City, Vietnam. Discovering new corners of Southeast Asia and the emerging cryptocurrencies give it a buzz like no other.
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