Cryptocurrency Terra crash triggered 'fear' in the markets, says expert
Blockchain fund founder says market volatility and crypto prices were expected to drop for 'quite some time'
Delta Blockchain Fund founder and general partner Kavita Gupta weighs in on the cryptocurrency crash.
During an interview on "Mornings with Maria," Wednesday, Delta Blockchain Fund founder and general partner Kavita Gutpa explained why the current market volatility - namely a drop in crypto prices - was ‘very much expected.’
Bitcoin falls to 18-month low. (Photo Illustration by Chesnot/Getty Images) (Photo Illustration by Chesnot/Getty Images / Getty Images)
KAVITA GUPTA: It's the market, it's the volatility. There was a time that people were asking about why all these institutions are buying. Why Bitcoin is the new currency to go forward? And today in the volatility market, we're only talking about sell-off. I think, of course, Terra's loss has actually really triggered a lot of fear in the market. We see the market feel with respect to selloffs, but overall market volatility and especially crypto prices to drop was very much expected for quite some time. If you go to all-time high, you have to find some price correction somewhere, right?
BITCOIN PRICE TRADES AROUND $21,000 AS CRYPTO FIRMS ANNOUNCE LAYOFFS
WATCH THE FULL INTERVIEW HERE:
Delta Blockchain Fund founder and general partner Kavita Gupta discusses volatility in the crypto market on ‘Mornings with Maria.’