Crypto crash & Murphy’s law: Is there a correlation? Is this the beginning of the end for crypto?
Crypto Crash & Murphy’s Law
Scott Sheridan, market expert, and CEO of tastyworks comments:
“I think right now you’re seeing a bit of Murphy’s Law with respect to crypto. The recent issues with stable coins, in general, coming in the midst of some pretty bearish market activity overall, couldn’t come at a worse time. You have a lot of nervous investors at the moment and anything calling into question the stability of crypto right now is going to be more heavily scrutinized by traders.
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I don’t think crypto, as an asset class, is going away. I firmly believe it’s here to stay and is simply experiencing growing pains.
Having said that, we absolutely need regulatory clarity and I think we’ll likely have that before the end of this year. Unfortunately, I don’t think there is much individual investors can do in the meantime to speed things up. This is just a part of the slow process inherent in the regulatory side of things. Frankly, evolution in the industry, with respect to products and asset classes, is lightyears faster than regulators.”
tastyworks is an online brokerage platform built specifically for options traders. The up-and-coming online broker is a subsidiary of tastytrade, one of the fastest growing online financial networks in the world. tastyworks was designed by the founders of thinkorswim with sophisticated functionality for complicated options trades and strategies in mind. It has a do-it-yourself approach and provides the technology, education, and support to succeed more easily on your own.