On the air of CNBC, David Rosenberg, senior economist at Rosenberg Research, said that Bitcoin pumping had become suspiciously aggressive. This is an alarming signal for the market, which has begun to resemble a giant bubble.
All markets are now overheated, so any new exacerbation of volatility is fraught with the most negative consequences.
On Saturday, January 9, BTC is trading just below $ 40,000. The transition of investors to a wait-and-see strategy somewhat weakened the heat and forced the cryptocurrency to surrender some of the positions it had won.
David Rosenberg said:
Based on our evaluation data, we are now overvalued by somewhere between 20-30% due to a number of different factors.
The economist has called Bitcoin’s rally in the past few days abnormal. In his opinion, as soon as the coin’s value begins to fall, the attractiveness of gold will sharply increase again. as the safest asset.
Many experts believe that the rapid growth of bitcoin in January was the result of another entry of large players into the crypto sphere.
Grayscale Asset Management, January 9 provided data, from which it follows that its bitcoin trust has grown to $ 24.155 billion.The total amount of funds invested in the giant’s cryptocurrency trusts has already exceeded $ 28.4 billion.
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