Founder Tetras Capital Alex Sunnarborg said that Bitcoin has not yet reached the bottom. According to the Manager of a hedge Fund, cryptonote needs a comprehensive cleaning. This would get rid of the “bad actors” and improve investor confidence in emerging market. After the fall of Bitcoin from a historical high in December 2017 to 6 million in February 2018 “bottom” coins remains a major topic for discussion. Sunnarborg, I am sure that BTC is still not felt. Managing partner at Capital Tetras explained my opinion in a conversation with Jeff Kauflin from Forbes.
I think the current situation is difficult to call the bottom […] it seems to me, the phenomenon reaches a true bottom, when it generally ceased to be mentioned. When all of the negative catalysts have already said, and when they no longer appear. When the only option left is to rise from the ashes.
However, Sunnarborg also believes that the price of Bitcoin is very close to reach the bottom in this long-term trend. But this market lacks total clarity. As one of the key factors in achieving cryptocurrency sunnarborg bottom, said a possible rejection of an application for a Bitcoin ETF from VanEck, and SolidX. He also notes that at the moment in the industry too many questions. This uncertainty with the launch of Fidelity and Bakktand approval or rejection of the ETF, which may play into the hands of the cryptocurrency and send them to the bottom.
In late January, 2019 Fidelity has appointed the launch of its custody services in March of this year. Bakkt still waiting for approval from the Commission on trade commodity futures (CFTC). The company claims that they have everything ready.
To sum up the opinion Sunnarborg, the stock market needs a complete cleaning. The only way it can be made more attractive to institucionales and get more truthful trade statistics. More data look at cryptodata.
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