The crypto markets were in the reds as we witness big liquidations. Bitcoin, Ethereum, and almost every major project have seen a tumble. Even the Bitcoin Fear and Greed index is currently pointed at “Extreme Fear”.
Amid all the bloodbath, financial expert John Squire, a partner at Ojamu, an AI & Blockchain-powered platform, spoke exclusively to Watcher Guru explaining the recent crypto market crash.
While speaking to Watcher Guru, Squire said,
“The markets around the world are falling and that’s affecting the crypto markets performance along with liquidations that’s occurring lately.”
It goes without saying that the current market situation is in murky waters, and calls for extra vigilance. Squire is also of the same opinion. When asked which way the crypto market may go this week, Squire advised investors to be cautious because the market has entered an unpredictable territory.
Squire said,
“I recommend analyzing the projects more than the markets because at the moment nobody knows what is going to happen.”
He went on to say that instead of mindlessly purchasing the dip, investors should take time to ponder and make informed decisions. The finance guru says,
“It’s time to reflect and make decisions calmly. There is a lot of life left for the crypto world.”
Ethereum to be the top crypto?
In a previous interview with Watcher Guru, Squire had predicted that Ethereum would follow Bitcoin’s path for the short term. Nevertheless, he did say that Bitcoin would eventually begin to follow Ethereum in the long term.
Squire believes Ethereum will become the main currency in the crypto space. He emphasized that Ethereum has more utilities and use-cases, which gives it a competitive edge. Squire has stated that the Ethereum network will evolve over time and will bear the market’s technology on its shoulders. Ethereum is more energy-efficient, according to Squire, and will be an extra reason that pays off in the long term.
Speaking to Watcher Guru about Ethereum, Squire said,
“Most decentralized finance and NFT games use it and it allows the creation of smart contracts on the network. Users can make their transactions without the help of a third party, in addition to being more secure and credible. This advantage puts Ethereum above most of its competition because it is more secure.”
The crypto markets are at their worst this year. At press time, Bitcoin was trading at $33,635.89, down -2.9% on the daily charts and -12.7% on the weekly. While Ethereum was trading at $2,456.20, down -4.1% on the daily chart and -13.3% on the weekly.