During the market downturn in March 2020, Bitcoin (BTC) fell over 50% in value across a two-day period. Traditional financial markets also dropped vastly in March. Although Bitcoin posted a standout recovery, going on to smash all-time price highs, one might wonder what, if any, condition could instigate a similar future drop for crypto’s largest asset. Dermot O’Riordan, partner at venture capital outfit Eden Block, recently gave his thoughts on the matter.
“In the short-term Bitcoin’s value prop as a non-sovereign censorship resistant hedge to the dollar is growing stronger by the day,” O’Riordan told Cointelegraph. “Saying that, Bitcoin’s volatility isn’t going away anytime soon, and I expect to see a lot of volatility for years to come from those in the money taking money from the table,” he said, adding:
“Something often overlooked however is that every new price milestone unlocks a new larger class of institutional investor with a mandate to purchase the…
