Of course, Arthur Cheong cannot see the future, but years of experience may have given him the ability to accurately read today’s trends. Examining the opinions and evaluations of different experts in the cryptocurrency markets can help us gain different perspectives. Therefore, let’s take a look at the famous investor’s views on the upcoming period.
Arthur and Cryptocurrency Comments
BTC price was challenging $60,400 in the early hours, but it was lingering at $59,700 at the time of writing. For now, closures above $59,200 are positive. If we see significant demand at the opening of the Asian markets in about 12 hours, ETF entries with the opening of the US market could help strengthen the upward momentum.
DeFiance Capital CEO Arthur Cheong made some unconventional evaluations in his latest post.
“I think we must now accept that cryptos are not suitable for mass adoption like web2, but instead are optimized for specific narrow but extremely high-impact use cases such as global stateless money, cross-border payments, and decentralized finance.”
According to him, chasing mass adoption was not a good ideal and was just focusing on a wrong target. Nevertheless, he is satisfied with the current situation.
Will Cryptocurrencies Increase?
Cheong also says he expects a rise in BTC price in the short term. According to him, the capital flowing from traditional finance to crypto promisingly met Germany’s sales, and this strong demand represented the last stage before the rise. Germany, which had been selling for weeks, recently sold its 50,000 BTC to market makers and exchanges, resetting at lower levels.
“The German government sold all its BTC, and TradFi BTC ETFs bought them. Additionally, the excitement of the expected ETH ETF launch also somewhat reduced this pressure. We have an almost perfect environment to rise higher from here.
Overall, we see quite strong accumulation signs for certain quality tokens. There seems to be a shift towards coins with clear fundamentals.”
