The Bitcoin (BTC) price shouldn't be your main concern, according to Teddy Fusaro, the COO of Bitwise Asset Management. In his recent interview with Cheddar, Fusaro opines that the government's ability to handle the coronavirus crisis was more important than the coin's volatile price swings.
"What I am most worried about is not the price of Bitcoin. It is public trust in our institutions, in our government, and in the way that we are handling the coronavirus crisis more broadly."
Fusaro says that it will be possible to figure out how Bitcoin reacts to traditional assets once the markets "digest" this crisis.
A trustless currency
The Bitwise exec calls attention to the fact that is a trustless currency that doesn't require you to believe your bank or your government.
"In times like these, it is worth considering the phylosophys upon which Bitcoin is based, and that's something to look at, something that I think people will take seriously as this evolves."
Bitcoin was the answer to the previous financial crisis that was infamous for government bailouts. The Lehman bankruptcy is believed to have led to the advent fo the first decentralized digital currency.
Expect more volatility
While Fusaro didn't mention a specific price target, he expects more volatility this year. This applies to traditional markets as well since they are also in "a little bit of paradigm shift."
He predicts that the new economic challenge will require federal stimulus responses.
As reported by U.Today, the trader who accurately called Bitcoin's price action now expects a major macro move after the halving.
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