Tuesday, September 26, 2023
HomeEthereumBitcoin holds below $50,000, traders share alternative crypto plays

Bitcoin holds below $50,000, traders share alternative crypto plays

Cryptocurrency is Federal Reserve We started a two-day meeting on Tuesday.

The potential end of exciting monetary policy has plunged space in recent months.

Bitcoin It rebounded on Tuesday, but is below the psychologically significant $ 50,000, well below the close-to- $ 70,000 high set in November.

CNBC’s “Trading country“We asked traders how they position their portfolios to get the best exposure to crypto space towards 2022.

“Buy now,” said Mark Tepper, president of Strategic Wealth Partners, on Tuesday. “I believe in cryptocurrencies a lot, I own some, but I’m also a realist, and if you want to own or trade cryptocurrencies well … you can sleep at night I think I own it in proportion. “

For Tepper, that’s about 10% of his liquid net worth, and the amount he says allows him to feel comfortable if he loses it all, but if it recovers tenfold. “Uplift”.

“I think we need to understand that cryptocurrencies have soared from the depths of Covid because of the new liquidity that floods the system. [stimulus] Check It’s no longer a catalyst, so future profits will be much slower. “

In an email to CNBC, Tepper said it has allocated 50% of its cryptocurrency positions to Ethereum, 40% for Bitcoin, 10% for lesser-known cryptography, Polka dot..

“Currently, 100% of my new cryptocurrency is in Polkadot. Many people haven’t heard of it,” he said. “Founder of [the platform] Polkadot was also the co-founder of Ethereum … he basically embraced Ethereum’s technology and made it better. So now my money goes there. “

Todd Gordon, founder of Inside Edge Capital Management, states that recent cryptocurrency weaknesses are likely related to technology sold out and system liquidity declining. However, he believes that the adoption of cryptography among the elderly and established investors is a broad positive that should offset such a kind of decline.

Like Tepper, Gordon is bullish in space and has 3% exposure to the cryptocurrencies in his portfolio-it consists of 56% Bitcoin, 35% Ether and 5%. increase Solana And 3% Cardano..

“Perhaps if you want to find a good way to find out the difference between Ethereum and Bitcoin, this is an old forex trick. Look at the cross rate, look at Ethereum and Bitcoin, and withdraw the dollar.” Gordon is the same. Said in an interview.

Ethereum is weaker than Bitcoin, but recently we have found support at the current level. Gordon believes that if it can maintain that level of support, it could enhance his position on Ethereum.



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