There is real risk of a larger pullback in the market due to broader economic wobbles in China and the US. I take the view that crypto is a “risk on” asset class, so some traditional investors will pull out when stocks turn bearish. In addition, crypto regulation concerns are beginning to dominate media coverage.
We should remember that big falls are temporary. This market will grow, no doubt, but we must have patience. The strategy is in stable assets as we see how this pans out over the next few days. It might brush off the above concerns, but it’s not worth the risk to stay in.