Closely followed macro strategist Lyn Alden says she remains long-term bullish on Bitcoin even though BTC is down over 60% from its all-time high.
In an inteview with market analyst Alessio Rastani, Alden says that she’s looking at the bigger picture and sees the importance of Bitcoin in the macro setting.
“Basically, this is the time to focus on what’s real, what’s being built, what problems are being solved, especially when you look at globally – the whole world, developing markets, especially – and seeing what are the problems with the money system? What’s happening with inflation, what’s happening with authoritarian countries or frozen bank accounts and all sorts of things like that, and what technologies can actually be useful for them?
For that type of reason, I’m long-term structurally bullish on Bitcoin.”
In addition to the thesis that Bitcoin looks bullish from a macro perspective, Alden also says that investors should also keep an eye on BTC’s fundamentals.
“So I think it’s about managing position sizes and then focusing on the fundamentals, which contrary to popular belief, there are fundamentals.
So basically, you can look at what’s happening in terms of development: what’s happening with the Lightning Network, what’s happening with different wallets and ecosystem around the whole space, what’s happening with adoption in certain developing markets, what’s happening with on-chain indicators… There are different ways to analyze the market I think to understand what’s happening under the hood.”
IDon't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Art Furnace