BlackRock Analyst: Cryptocurrency Market Charts Look Intimidating
Chief investment analyst at the world’s largest asset manager raised concerns over the health of the cryptocurrency market by commenting on reporters.
BlackRock chief analyst Richard Tournill spoke after his company, which managed more than $ 5 trillion in assets at the end of March, released its 2017 interim investment forecast. Although this report does not provide any information about the cryptocurrency market, and the company does not provide any forecasts for its development, Tournill revealed his point of view on this issue today.
According to Reuters, Tournill, referring to the current state of the cryptocurrency market, noted: “I look at these charts and they scare me.”.
The cryptocurrency markets have been experiencing a serious decline in recent days. Ethereum’s cryptocurrency fell below $ 200 for the first time since late May.
Tournill added that, in his opinion, the market poses no serious risks to the broader financial markets in the event of an excessive acceleration in sales..
“There is no indication that if the rate falls to zero tomorrow, there will be any broader financial implications over time, but for me this is an example of big market movements.”.
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