The Wolf sniffed out BTC and ETH – The financial markets are a real permanent battle between the bulls (bullish) and the bears (bearish). If the host of the financial show Mad Money, Jim Cramer, recommends selling the cryptos, a trading celebrity is much more measured. It is Jordan Belfortthe ex-stock trader who inspired Martin Scorsese for the film The wolf of Wall Street : it thus seems very optimistic for Bitcoin (BTC) and Ethereum (ETH)
Jordan Belfort denounces the unpredictable FTX “scam”
All financial market observers go there with their analysis of the cryptocurrency sector. Especially since the resounding FTX disaster and Sam Bankman-Fried (SBF). L’ex-trader Jordan Belfort also commented on the news of the young asset class.
On his YouTube channel The Wolf of Wall StreetJordan Belfort a published his latest personal take on the crypto-asset industry. Said to be “inundated with requests” to comment on the case FTXhe begins by sharing his perspective on the vast and dramatic ” scam “ conducted by SBF:
“(…) so here is my number one opinion: FTX was a scam (scam), and there was no way to protect against a scam like that. (…)”
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When a sulphurous trading star favors Bitcoin and Ethereum
Unlike Jim Cramer, quoted in the introduction, Jordan Belfort thinks that it is currently “the worst time to sell” because everything is ” at the lowest “. This does not mean that he is a buyer for almost all cryptocurrencies. Alone Bitcoin et Ethereum find grace in his eyes:
“(…) but just because FTX itself was a scam, that doesn’t mean you should completely ignore Bitcoin. (…) The same for Ethereum. But what I mean is that outside of those two cryptos – Bitcoin and Ethereum – I literally wouldn’t want to touch cryptocurrency right now, even with a 3 meter pole. »
The Wolf of Wall Street then compares the current hiver crypto at the bursting of the Bulls Internet in the early 2000s. At that time, the best companies “ended up coming back stronger than ever”as in particular Amazonwhich he quotes.
Jordan Belfort ends by talking about his personal case. The ex-trader first explains that he has no “not sold one” bitcoin or ether, but even more “buy more”. Exactly like El Salvador by the way. Because if the wolf of Wall Street thinks that Bitcoin and Ethereum can still potentially drop a little in the short term, he is on the other hand convinced that at long terme (5 to 10 years): “these two have an excellent chance to be much higher than today”.
The events of the past weeks and the bankruptcy of FTX are there to remind us that we must remain cautious in this still very young ecosystem. Get into the habit of healthy distrust. To buy your cryptocurrencies, register now on eToro and start getting acquainted with the exciting world of blockchain technology (commercial link).