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Home»Altcoin»Defiance ETFs CEO ‘Completely Bullish on Bitcoin’ — Says It’s ‘a Good Time to Get in’
Altcoin

Defiance ETFs CEO ‘Completely Bullish on Bitcoin’ — Says It’s ‘a Good Time to Get in’

cryptossorBy cryptossorNisan 3, 2022Yorum yapılmamış4 Mins Read
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Defiance ETFs CEO 'Completely Bullish on Bitcoin' — Says It's 'a Good Time to Get in'

The head of Defiance ETFs says she is “completely bullish on bitcoin.” Noting that it is a “good time” to get into the cryptocurrency, she explained why she believes the price of bitcoin will reach $100K.

CEO of Defiance ETFs Bullish on Bitcoin

Sylvia Jablonski, chief executive officer, chief investment officer, and co-founder of Defiance ETFs, explained her bullishness on bitcoin despite recent price declines in an interview with CNBC Thursday.

Defiance ETFs is an exchange-traded funds (ETFs) sponsor and registered investment advisor focused on thematic investing.

Jablonski told the media outlet:

I remain completely bullish on bitcoin. I think the short-term activity is just noise.

She noted: “It looks as though, in terms of what we’ve seen for the last six months to a year or so, is that bitcoin is correlated with risk assets and equities specifically.”

The executive explained that when investors see the crypto market rallying for a couple of days, they pile back into bitcoin, ether, and some of the other cryptocurrencies. Similarly, “when you do see pullbacks, they seem to be hitting bitcoin too,” she pointed out.

Regarding bitcoin as an inflation hedge, she admitted that “a couple of years ago, a lot of us thought that bitcoin was going to be this great inflation hedge and it was going to react in a similar way to gold and it was going to be this safe-haven inflation trade, but I think it’s trading more like a Nasdaq 100 stock than it is like an inflation trade.”

Jablonski predicted, “In the short term it’s going to be sideways volatility, it’s going to be range-bound price action, but longer-term, I still expect bitcoin to be in that $100,000 camp before I expect it to go to zero.” The Defiance ETFs boss elaborated:

I still think it’s kind of a good time to get in.

Jablonski described: “We have to think about it as we do the market so if I think about what happened with some of the broad-based indices, and again just using Nasdaq as an example, at one point we hit 200-day moving average and Nasdaq was very much in bear market territory, 20% or more below all-time highs.”

She emphasized:

Bitcoin mirrored that, and here we are getting off that 200-day average on Nasdaq and we are getting off our lows on bitcoin as well.

“So I think that we definitely have a tradable bottom. I think we are going to have these short-term rallies, but I don’t think that this is it. I think that the market has a little more to weather in terms of range-bound volatility. There’s a psychological aspect to the headwinds as well,” she further shared.

The executive continued: “You have [the] Russia-Ukraine [war], you have inflation, you have the Fed raising rates, and that just keeps investors holding on to their cash, which is actually a huge mistake in the end because that locks in losses.”

Jablonski added: “But I think once they kind of get past that psychological aspect and we sort of see the fundamentals in the economy and cryptocurrency and bitcoin, you’ll start to see it rally so I don’t think we’re going to get that straight shot just yet.” She opined:

I think you’ll get some range-bound volatility now between $46,000, $47,000, and $50,000. I think kind of down the road we’ll see that rally up to $100,000.

At the time of writing, bitcoin is trading at $46,075 based on data from Bitcoin.com Markets.

What do you think about Sylvia Jablonski’s comments? Let us know in the comments section below.



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Investors Seek Refuge in Cash as Recession Fears Mount, BOFA Survey Reveals

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