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Travis Kling: "cryptocurrency will be the most effective asset in 2019"

ICO-NEWS-Travis-Kling-cryptocurrency-will-be-the-most-effective-asset Travis Kling | Founder of the "Ikigai"

There is a strong likelihood that cryptocurrencies will become the most effective asset in 2019, said Travis Kling, former head of Point72 Asset Management, a hedge fund that controls assets worth $ 12.4 billion.

The founder of the "Ikigai" fund said that cryptocurrencies were never present during the "bearish" mood in traditional finance, and the fall in the Nasdaq Composite and Dow Jones indices could bring more investors into the cryptocurrency space.

"Crypto has never existed during a bear market in traditional assets. BTC was birthed at the very beginning of the largest monetary experiment ever- globally coordinated QE. Ending QE is causing pain There is a significant chance Crypto is the best performing asset class in 2019," he said.

This week, the US stock market began to be called bearish, as the Nasdaq Composite lost more than 20% during one quarter.

While the market could have fallen by an additional 20% in order to level the 2017 profit, which was the best indicator in recent history, sharp sales in the broader financial market began to have a significant effect on both large conglomerates and small and medium business.

Kling, who manages the cryptocurrency "Ikigai" fund, said that for a cryptocurrency market, it makes sense to "be at the bottom" before the stock market reaches bottom, given the intensity of sales in the US markets and the trade war with China.

"You're already seeing that. Been seeing it all year. It would make complete sense to me that crypto would bottom out months before traditional asset classes," the investor added.

In August, Kling created the Ikigai fund and left office at Point72, firmly believing in the long-term perspective of the cryptocurrency sector. At the time, he stated that cryptocurrencies could become a trillion-dollar asset class.

Since then, the cryptocurrency market capitalization has more than halved - from $ 300 to $ 144 billion. Nevertheless, Kling is still confident that the bearish cycle of the cryptocurrency market will end in the coming months.

SOURCE

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