Should Bitcoin and Ethereum’s sudden price drops worry investors? Expert name announced

HIVE Blockchain Technologies Chief Executive Officer Frank Holmes said investors and traders shouldn’t worry about Bitcoin and Ethereum’s plunges earlier this week. “Volatility is in the DNA of cryptocurrencies,” he said.

Discussing Ethereum and DeFi, Holmes said, “I think that’s a great cut. Lots of new derivatives will be coming out here and nothing but blue skies to be seen. But it’s extremely variable,” he said.

Holmes said investors need to understand that volatility is commonplace in the crypto space.

“I think we see this incredible surge when something is disruptive. Think Tesla. Tesla has one-to-one volatility DNA with Bitcoin and Ethereum. In fact, Ethereum is more volatile than Bitcoin. Because silver is more volatile than gold. With anything disruptive, there will be those who are against and those who are early adopters Bitcoin fell 20% from its Feb. 21 high. Holmes said that “sudden crashes” are not new in cryptocurrencies:

“This flash crash in Ethereum was a year ago when ETH went to $300, fell to $100; It also occurred when it quickly retreated to $200 and showed some sort of sideways action before hitting other levels.”

After the fall in mid-February 22-23, cryptocurrencies seem to have recovered a bit more. On Monday, bitcoin fell below $50,000 and reached $45,000. Ethereum fell one-for-one from over $2,000 to $1,400. Indeed, as we reported as , ETH; Cryptocurrency exchange Kraken has dipped below $700 for a while.

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