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Business & Finance

Investors Shouldn’t be Lazy About Their Investments in Cryptocurrencies

Seemingly annoyed by the lack of maturity the market has been able to conjure up upto now, Linda Coin’s adviser and a prominent crypto analyst come enthusiast David Gokhshtein points out that most people who invest or even take interest in cryptocurrencies have never invested before. This makes it an uninformed market where a lot of problems are faced by all parties involved.

He took to twitter to share his thoughts:

Speaking to BlockPublisher when asked whose job it is to provide the right education to investors and pupils of crypto, David went on to say that its the investor’s job to research the market thoroughly and be sufficiently resourceful about it, before getting their hands dirty. He said:

It’s the investors’ job. At the end of the day, you have to do your research. Don’t be lazy about it because it’s your money.

He further told that he felt the market is currently at a stage where it needs more maturity, which will arrive as soon as authorities and regulating bodies can reach consensus on certain important aspects regarding this space. The role of regulatory bodies such as SEC and CFTC, along with governmental eyeing is vital for the crypto eco-system to grow as a whole. He said:

I believe in order for the space to grow, we do need some sort of regulation. This will allow the average person and the institutions to enter this space with confidence.

He also shed some light on the ongoing dispute in the SEC regarding constant ETF rejections for Bitcoin. When asked if an ETF approval would help not only in greater acceptance to cryptos, but also in imparting greater maturity and education to investors and exchanges, David emphasized for a crucial role to be played by Bakkt.

Bakkt is an open and seamless global cryptocurrency platform powered by The Intercontinental Exchange (ICE) that allows consumers and institutions to buy, sell, store and spend digital assets simply, safely and efficiently.

It would help boost the space in the short-term. What everyone really needs to be watching or asking about or researching is Bakkt. That’s going to be major for the crypto market and it’s growth.

David, an entrepreneur and a figure of prominence for many in the crypto space, also had a message for people who do not believe in crypto for the future. He picked on the many who jump on the bandwagon when the market is facing a bear run, telling them to support the system even when its downtrodden. He tweeted:

The cryptocurrency market seems to have no time to focus upon institutional matters at the moment. It faces uncertainty bigger than ever and is sorrounded by major complexities in all directions. There’s the SEC and CFTC clashing over ultimate jurisdictional power in the U.S. crypto space, the constant ETF rejections by the SEC for Bitcoin, the consistent fork-fights between Bitcoin ABC and SV entities and the Chinese ban on cryptocurrency commercialization. To add to make matters worse, the coin market has been facing a month long bear market, with several major cryptos plummeting to new lows by the passing day.

While the current state of ‘mayhem’ in the crypto world has caused some to stray away from digital currencies for a while longer, others, like David himself, are adamant that a bit of research by investors and provision of the right education can go a long way into the market coming back strong.

Razi Khan

Researcher, Electrical Engineer and a teacher, Razi is one who takes great intrigue in the prospects of blockchain and cryptocurrencies (BTC in particular) while contributing a critical approach over the subject regularly. Contact the editor at editor.news@blockpublisher.com

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