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Crypto Hedge Fund CEO Zhu Su, explaining why “it’s hard to be too bearish,” says these three altcoins are showing strength

Crypto hedge fund veteran Zhu Su shares his reasons for believing the markets will rebound strongly despite a recent downtrend in prices.
In a series of tweets full of inside jargon, the CEO and CIO of the cryptocurrency hedge fund Three Arrows Capital points out several key factors that make him look far from pessimistic.

“It’s just hard to be too bearish when:

1) BTC [Bitcoin] and ETH [Ethereum] Supply on the stock exchanges sinks to new lows

2) solunavax [Solana, Terra Luna and Avalanche] show majestic strength

3) largest asset allocators in the world in line with the crypto thesis

4) Tourists and short-term oriented investors washed away. “

At leading Cryptocurrencies how Bitcoin and Ethereum are not readily available on exchanges suggests that holders have no interest in selling.

The three altcoins that Zhu mentions by name have all weathered the market-wide tumult, and two have actually been OK in the past 30 days.

Terra is a public one Blockchain-Protocol that offers a range of decentralized stablecoins. The native token LUNA rose 62.1% last month from $ 40.23 to $ 65.28.

Smart contract platform Avalanche (AVAX) also rose over the period, increasing 6% from $ 100.68 to $ 106.73.

Meanwhile, Ethereum rival Solana (SOL) is down 11.6% month on month after falling from $ 195.24 to $ 172.76.

By comparison, BTC is down 19.8% from $ 56,930 to $ 45,700 over the same period, and leading smart contract platform ETH is down 4.4% month-on-month from $ 3,998 to $ 3,825.

The CEO of Three Arrows Capital believes the recent market shake-outs were a necessary part of the process to bring crypto to the next super cycle.

“American [traditional finance]/ Macro + Global Retail + Logwealth Cryptonatives have generally capitulated to Dynastic participants for the past week.

This was the much-needed risk transfer required to properly initiate the next wave of the super cycle. “

As early as October, Zhu defined the term “Logwealth” with the words:

“The preference for log versus linear wealth is the main reason people make money [negative expected-value] Making decisions like selling too early. “

Zhu also highlights an S&P 500 chart overlaid with BTC and ETH, and shows his 392,100 Twitter followers how consistent the downward movement has been across multiple markets.

“The crypto market used macros as an excuse to sell, even though it did so for mostly unrelated reasons (overvalued alts, year-end payback flows, tax sales, Huobi [crypto exchange] Account closures, Logwealthers), all of which are unironically temporary.

Prepare accordingly. “
Source: Zhu Su / Twitter
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Source: Crypto News Deutsch

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