Su Zhu, CEO of crypto investment fund Three Arrows Capital, explained the reason for Bitcoin’s collapse in late May and his views on the next direction of the crypto market.
In a new interview on the Uncommon Core podcast, Zhu says that the interplay between Bitcoin’s rising price action and a series of bearish news has triggered massive sell-offs that have halved Bitcoin’s value.
Zhu referred to China’s crackdown on crypto miners and Elon Musk’s statements on Bitcoin’s environmental impact:
In the interview, Zhu stated that “the bull run is definitely not over.” According to the crypto expert, the latest survey showing that hedge funds are planning to pour hundreds of billions of dollars into crypto is also coming across as a mega bullish catalyst that could immensely strengthen the digital asset markets.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.