BlockBeats News, February 8 — Bloomberg ETF analyst Eric Balchunas posted on social media stating, "The judgment that BTC ETFs will be more ‘resilient’ than people think is correct, but I was wrong to believe that market volatility would decrease. I initially thought that the retail investors brought in by ETFs would replace the ‘foolish money’ retail investors from before FTX, thus making the market more stable. But what I didn’t consider is the large-scale selling by Bitcoin OGs.
I originally thought they could withstand multiple rounds of extreme market conditions and still HODL. Additionally, a 450% increase over two years is itself a warning sign — too much, too fast. We have never changed our stance on BTC — it remains a high-volatility, high-risk asset, at least for the foreseeable future."
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