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Bitcoin (BTC) Only: Trader Mati Greenspan Sells All Altcoins

Thu, 03/12/2020 - 11:38
Vladislav Sopov
It's very difficult to remain bullish on Bitcoin (BTC) amidst bloody March. Despite Bitcoin (BTC) losing its 2020 gains, some traders are still betting on the orange coin
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Mati Greenspan, founder of Quantum Economics, trader, analyst and strategic advisor, has announced a very surprising revision of his cryptocurrency portfolio.

All in

Mr. Greenspan admitted that he moved all of the assets he operates via the EToro trading platform to only one asset - Bitcoin (BTC). According to his statement, he made this decision due to the end of the 'altcoin season' and in lieu of the coronavirus pandemic.

His re-consideration of his portfolio is in effect 'until further notice'. 

It should be mentioned that yesterday, the WHO declared the coronavirus outbreak a pandemic and called on all countries around the world to fight it. Also, U.S. President Donald Trump cancelled all flights from Europe to the USA.

Impact of the black swan

Despite market euphoria, there is no general consensus among experts in the crypto industry on how the COVID19 pandemic affects the blockchain sector. Some of them, including Charles Edwards of Capriole Investments, admitted that the impact has been very heavy and is getting only heavier with the panic surrounding classic asset (gold and stock) markets.

Bitcoin (BTC) Meets Black Swan Undervalued But Can Close 2020 at $6,400: Analyst

However, Vitalik Buterin, Ethereum Foundation co-founder, is certain the coronavirus' influence is greatly over-estimated. Speaking on which assets are the best during hard times, Vitalik said:

I don't think the crypto markets care about coronavirus.

At print time Bitcoin (BTC) is trading at $6,400 and it looks like Mr. Greenspan's announcement is still in effect.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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