Monica Eaton-Cardone Says it’s No Surprise That Spec Assets “Fluctuate Wildly”
Chargebacks911® COO Monica Eaton-Cardone, a globally-recognized payments industry expert, was recently asked to share her insight on altcoins in a new feature for Finance Magnates.
Finance Magnates is the world’s only multi-asset online/electronic trading knowledge hub. Initially focused on the Forex B2B sphere, the site offers a one-of-a-kind knowledge opportunity for industry professionals and trading savvies alike.
The sudden slack in the cryptocurrency market has traders reeling. Bitcoin lost roughly 30% of its value in less than one week. But, as Monica explains, this is something that comes with the territory when dealing with highly speculative assets.
“A lion eats meat. Lots and lots of meat. That’s what they do. So, if you own a lion, you shouldn’t be surprised that it’s a ravenous meat-eater,” Monica explains. “Similarly, a speculative, cutting-edge investment like Bitcoin is going to fluctuate wildly. That’s what they do.”
Monica suggests that the crypto market is still far from achieving the kind of stability that would allow any asset to be a reliable currency or store of value. That’s not to say there’s no opportunity, of course; there are still plenty of opportunities to make money in the crypto space, especially regarding altcoins that are beyond standard-bearers like Bitcoin and Ethereum.
Investors who are ideologically committed to cryptocurrency are not going anywhere. “For them, it’s as much a moral investment as a financial one. Not unlike the people who’ve turned to crypto because of dissatisfaction with government rules, regulations, and fiscal policy, they’re going to give crypto every benefit of the doubt,” Monica says.