The continuous reports of the fall of cryptocurrencies have been repeated for several weeks. This trend does not seem to change in the near future. Is it time to invest in cryptocurrencies? For some experts in the capital market, the answer is yes, let’s see why?
During Yahoo Finance’s new show, ‘The Crypto Mile, several experts spoke about the crypto landscape in the near future. One of them was the defender, developer and author of Bitcoin, Jimmy Song, who assured that cryptocurrencies have not bottomed out. In his opinion, the quantitative rate adjustments that the US Federal Reserve has applied affect the decline of digital currencies. He believes that if there is a new adjustment, a new fall in crypto will be seen.
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For his part, Jordán Belfort, known for having inspired the film “The Wolf of Wall Street”, a biography about his time in the world of high finance, affirms that it is time to invest in this type of digital assets. He believes that the investment projection is 12 to 24 months to make money with Bitcoin. He also thinks that with a horizon of three or five years it would be surprising not to make any money. Belfort’s explanation is that as inflation continues to rise, Bitcoin will be traded as a store of value.
This was not always the opinion of Jordán Belfort, some time ago he was a staunch detractor of cryptocurrencies. In 2018 he recorded a video posted on YouTube in which he said that Bitcoin was crazy and delusional. This position changed when the prices of cryptocurrencies increased and then became an investor in several start-ups as a new NFT platform. This sudden change of heart would call his independence in issuing cryptocurrency investing advice into question.