eToro CEO Yoni Assia Thinks Multiple Factors Are At Play When It Comes To The Crypto Market's Current Bull Run
eToro CEO Yoni Assia Thinks Multiple Factors Are At Play When It Comes To The Crypto Market’s Current Bull Run
March 22, 2021
eToro CEO Yoni Assia Thinks Multiple Factors Are At Play When It Comes To The Crypto Market's Current Bull Run
eToro CEO Yoni Assia Thinks Multiple Factors Are At Play When It Comes To The Crypto Market’s Current Bull Run
March 22, 2021

Yoni Assia, the CEO of eToro, thinks that multiple factors are at play when it comes to the crypto market’s current bull run.

Assia said:

“I think there is a confluence of circumstances that are leading for this all-time high, both in crypto, as well in the stock markets. We’re seeing unprecedented monetary and fiscal sort of reactions from federal governments all around the world leading to zero interest rates, and even negative interest rates in some places.”

It has been reported that back in March 2020, Bitcoin (BTC) dropped below $4,000 as COVID-19 prevention measures made global headlines. Since then, the crypto market has roared upward, with Bitcoin reaching milestone prices in excess of $60,000 and an overall market capitalization of over $1 trillion.

Assia added:

“We’re seeing an unprecedented amount of money being printed by governments all around the world — some of them in a very unique and new concept of direct stimulus checks to consumers. That has definitely raised the biggest discussion in human history about the value of money — a discussion that started very passionately within the crypto space.”

However, Bitcoin has a maximum supply of 21 million coins, though not all of these have been distributed as of yet. Every 10 minutes or so, a set number of new coins from this allocation are released into the ecosystem as a reward for miners who contribute to the network.

ALSO READ :  South Korean crypto exchange, Coinone releases listing criteria

The report said that the network’s inherent scarcity is an easy enough concept for normal folks to understand, according to Assia, who further noted that folks are not blind to excessive money-printing and low-interest rates in the traditional fiat markets.

Thus, he also pointed out that crypto and stock purchases are now more globally available to retail buyers, spurring mass-scale involvement from people who may not previously have participated.

Source: Cointelegraph | Image: Medium | Bedell Frazier


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Report: Ethereum Can Go To $10,000 In 2021

Report: Ethereum Can Go To $10,000 In 2021

A report by professional trader Scott Melker said that Ethereum can go to $10,000 in 2021 and can overshadow Bitcoin. It has been reported that Melker sees this period of Bitcoin’s price consolidation as particularly...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.