After a sharp drop, Bitcoin is recovering. In today’s video, Empiricus analyst André Franco comments on the news involving cryptoactives. It also explains how this market moves. I invite you to watch the full video by clicking here.
See the main points:
- What is Bitcoin’s influence on the cryptoactive market as a whole?
André explains that the cryptoactives market is well correlated. When Bitcoin goes up, the other cryptocurrencies tend to go up too. Just as the opposite happens. The devaluation of Bitcoin also leads to write-offs of other smaller cryptocurrencies.
The analyst says that, although he does not see coherence in this thesis, this is how it works in practice. In the expert’s opinion, this is a view of the market that there is no differentiation between digital assets.
This market thesis about cryptocurrencies, for André Franco, in addition to not being true, will still fall apart and surprise many people.
- After all, what caused Bitcoin to rise?
Nothing. Exactly, the analyst says that there was no news or specific facts for the currency to enter an upward trajectory. What happened was that the market simply realized that this was not the point. I explain:
Bitcoin fell after reports of tightening regulations on cryptoactives in China and some public comments made by Elon Musk that it would no longer accept the currency. But the Chinese government and Tesla’s CEO ended up backing down.
But what really made Bitcoin go up again was the market rethinking its previous reaction, realizing that it was exaggerated.
André Franco also says that he sees an even bigger bull market ahead of him, something that would make other cryptocurrencies value as much as he does.
- André Franco’s final remarks
A lot of news can change the price of Bitcoin, but nothing will really take away its real valuation. André believes that cryptoactives will still gain enormous space in the market and that it is worth holding some of the best in the portfolio.
There are also digital coins that are at an early stage and have a low market value – they are called microcoins. André comments that some of them can be the “little peppers in the portfolio”, in faster and more localized strategies. It will reveal in a free event 5 microcoins with high appreciation potential to invest R$ 500 in each, with the possibility of reaching R$ 1 million. I invite you to know more clicking on this link.
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