Uncertainty May Continue After a Quiet Summer, Warns CoinShares CSO Meltem Demirors - COINTURK NEWS
reklamı kapat

Uncertainty May Continue After a Quiet Summer, Warns CoinShares CSO Meltem Demirors

5:35 pm (16 days ago)
September 16, 2023

Meltem Demirors, the Chief Strategy Officer (CSO) of CoinShares, Europe’s largest asset management company, has warned investors that uncertainty may persist after a relatively quiet and low-volatility summer market conditions.

“Uncertainty Keeps Market Participants Out of the Market”

In a recent interview with Bloomberg, Meltem Demirors highlighted the high level of uncertainty in the cryptocurrency market and how it is keeping various market participants out of the market. She stated, “Emotions correspond to the flow of money into the market, and despite all the great news, we can see that this summer is a period of indifference.”

During the interview, Demirors also said:

There have been inflows into cryptocurrency-based investment products, and there was a boom in Bitcoin when BlackRock applied for a spot Bitcoin exchange-traded fund (ETF). However, there was a $300 million outflow last month. Last week, there was 70% less trading volume in publicly traded cryptocurrency-based investment products, and trading volume decreased by 30% in spot and derivative products.

All of this reflects a period of obvious uncertainty. There is a lot of uncertainty, and what we are seeing right now is investors, traders, and market makers standing on the sidelines.

“Democrats and Republicans Need to Come Together for a Solution to Uncertainty”

CoinShares CSO emphasized that there is a consensus among both Democrats and Republicans that US legislators need to provide regulatory clarity to the cryptocurrency industry, and she underlined that the current situation can only change with this consensus. She stated:

I believe both sides are on the same page, and I see a lot of consensus on the need to do something. I have been in this industry for almost a decade and I live in the US. I don’t want to pack up and move just because of political issues.

It is clear that we need regulations that are compatible with these issues, and they need to come from the US Congress because it is clear that regulatory agencies will not have the same opinion. I am a bit afraid of how all of this will be resolved because there are already many lawsuits and many different precedents emerging. Everyone needs to come together to really solve this.

You can follow our news on Telegram, Facebook, Twitter & CoinMarketCap
Related Posts