Bloomberg Analyst: Bitcoin Still a High-Volatility, High-Risk Asset

BlockBeats News, February 8th, Bloomberg's ETF analyst Eric Balchunas posted on social media, stating, "The judgment that BTC ETF investors will be more 'resilient' than people imagine is correct. However, my previous belief that market volatility would diminish this was wrong. I had thought that the retail investors brought in by the ETF would replace the 'dumb money' retail investors from before FTX, thereby stabilizing the market. What I did not consider was that Bitcoin OGs were selling in large quantities.

I originally thought that they could hold on to HODL after experiencing multiple rounds of extreme rallies. Furthermore, a two-year 450% increase should itself be a danger signal — too much of a rise, too fast. We have consistently maintained our position on BTC — it still belongs to the high-volatility, high-risk asset class, at least for the foreseeable future."