On the other hand, Mati Greenspan, senior market analyst at eToro also told CNBC, “The action we’re seeing may seem dramatic but is really quite normal for this market. He added that the drop brought most digital currencies at trading prices about a month ago.
Meanwhile, Joe Van Hecke, managing partner at Grace Hall Trading LLC, commented, “We get sell offs like this fairly regularly. I think this one is more pronounced and press-worthy. He noted that the decline is “affecting more people and the dollars at stake are greater.”
According to Hecke, “It’s a great time to evaluate which of these coins have staying power, actually have utility going forward, and invest in those.”
In November, Tom Lee, the co-founder of Fundstrat Global Advisors, said Bitcoin could easily reach $100,000. According to him, millennials consider the cryptocurrency as “digital gold.”
