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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crypto Comeback: Chief Economic Adviser Optimistic Over Renewed Risk-On Tone

Tony "The Bull" Severino
Tony "The Bull" Severino
5 years ago
2 mins read
crypto comeback economic risk

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When the pandemic first struck, crypto investors feverishly began reducing overall risk across their asset portfolio.

This sentiment has since changed, and with it the has the tone of a chief economic advisor who previously told investors to “buckle” up, and prepare for the worst. The increase in risk-on interest may help the high-risk asset class of cryptocurrencies stage a long-overdue comeback.

Chief Economic Adviser Optimistic Over Return Of Risk-On Tone

Fearing the unknown and uncertain about the future impact lockdown conditions would have on the economy, an investor mad dash to sell anything and everything resulted in a liquidity crisis now known as Black Thursday.

The massive selloff crushed the stock market and even precious metals gold, silver, palladium and more. The continued economic constraints also fueled a severe drop into negative territory in the oil market.

Related Reading | Mark Cuban’s $4,000 Trickle Up Stimulus Could Provide Boost For Crypto

High risk, illiquid crypto assets like Bitcoin, Ethereum, and many others, were decimated in the collapse. Chainlink flash crashed to nearly zero in the madness.

But the economy is now reopening, the curve is flattening, and investors are once again taking on risk, according to Mohamed El-Erian, chief economic adviser at Allianz.

Citing “good news across the board,” the economist says he is now seeing positive, “risk-on tone, which we haven’t had really for quite a while.”

Though he warns the economic recovery will not be a “smooth process” there is “big hope” that the return to risk-on sentiment is sustainable. This is a far more an optimistic outlook than the tone El-Erian took previously, warning investors to “buckle our seat belts.”

Crypto Comeback Possible If Risk Appetite Sustains

The return to risk will see stocks continue to rise, but potentially cryptocurrencies to surge.

After over two years of a downtrend, these assets are oversold and had been midway through making a recovery from low prices when Black Thursday struck.

The crypto asset class has recently come into the spotlight with institutional investors due to their hard-capped, digitally scarce supplies. Assets with limited supply can act as a hedge against inflation as the Fed adds trillions to its budget sheet.

Related Reading | Stimulus Checked: Here’s The ROI on a $1,200 Investment in Top Crypto Assets 

That stimulus effort also may be helping to boost crypto assets. Investors with stimulus money to burn are risking what they perceive to be free money handed to them from the government. Putting it at risk may seem less risky overall, compared to wagering one’s own hard-earned funds.

Coinbase data shows that purchases of crypto in the exact amount of what stimulus checks were issued had increased following their beginning to reach taxpayers.

Whatever is fueling the risk-on tone, it could cause a full-blown crypto comeback.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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