Market forecaster Jim Bianco mentions on Wednesday that some major cryptocurrencies are going to be a lot higher down the road, but one might have to sit through the bearish crypto market in the next several months, even years. “That’s got a lot of promise, and that’s really what’s significant,” says Jim. “The problem is the other driver is kind of an out-of-control casino with people betting on these coins going up and down.”
Bianco states that the coins are still extremely volatile, with declines up to 70% susceptible at any given moment. But once the adoption phase is over, cryptocurrencies will have their fundamental role in the real economy, thus having a much higher market share and price overall.
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People should treat cryptocurrencies as a long-term investment, as when the frenzy settles down, they will become a lot less volatile, but less risk always comes with less reward, says Bianco.
The future of Ethereum and Bitcoin will forever be a mystery, but with sensible investment, they are nothing but another tool to get higher financial market volatility and have a place in every investor’s portfolio.
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