“I’m completely positive on bitcoin,” says Sylvia Jablonski Defiance ETFs’ CEO. She highlighted why she believes bitcoin will reach $100K, noting that it is a “wonderful time” to invest in the cryptocurrency.
Sylvia Jablonski Bullish on Bitcoin
In an interview with CNBC on Thursday, Sylvia Jablonski, chief executive officer, chief investment officer, and co-founder of Defiance ETFs, highlighted her bullishness on bitcoin despite recent market falls.
Defiance ETFs is a registered investment advisor and issuer of exchange-traded funds (ETFs) that specializes in thematic investing.
According to Jablonski, who spoke to the press :
I’m still a big believer in bitcoin. I believe the short-term activity is merely background noise.
“It appears that bitcoin is associated with risk assets and stocks specifically, based on what we’ve seen over the last six months to a year or so,” she said.
When investors see the crypto market recovering for a few days, they jump back into bitcoin, ether, and other cryptocurrencies, according to the CEO. “When you do have pullbacks,” she added, “they seem to be affecting bitcoin as well.”
“A couple of years ago, a lot of us thought that bitcoin was going to be this great inflation hedge and it was going to react in a similar way to gold and it was going to be this safe-haven inflation trade,” she admitted. “But I think it’s trading more like a Nasdaq 100 stock than it is like an inflation trade,” she added.
“In the short term, there’ll be sideways volatility and range-bound price action,” Jablonski said, “but longer-term, I still expect bitcoin to be in the $100,000 zone before it goes to zero.” The CEO of Defiance ETFs explained further:
I still believe now is a fantastic moment to join.
“We have to believe about it as we do the market,” Jablonski explained. “If I think about what occurred with some of the wide-ranging index values, and again, just using Nasdaq as an example, at one point we hit the 200-day moving average and Nasdaq was very much in the bear market territory, 20% or more below all-time highs.”
She stressed the following:
Bitcoin has followed suit, and we are now trading above the 200-day average on Nasdaq and below our lows on bitcoin.
As a result, I believe we have reached a tradable bottom. I believe we will have similar short-term rallies, but I do not believe this is the end. In terms of range-bound volatility, I believe the market has a little more to weather. “There’s also a psychological factor to the headwinds,” “You have [the] Russia-Ukraine [conflict], you have inflation, you have the Fed hiking rates, and it just keeps investors holding on to their cash, which is a terrible mistake in the end because it locks in losses,” the CEO stated.
“But I think once they get over that psychological component and we start to see the fundamentals in the economy and cryptocurrency and bitcoin, you’ll start to see it rally,” Jablonski continued, “so I don’t think we’re going to get that straight shot just yet.” She expressed her opinion as follows:
Between $46,000, $47,000, and $50,000, I believe you’ll see some range-bound volatility. I believe we’ll see a surge up to $100,000 in the future.
At the time of writing,current Bitcoin price is $45,925.37 USD, with a 24-hour trading volume of $27,901,458,298 dollars. In the previous 24 hours, Bitcoin has lost 1.79 percent of its value.
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