CEO of cryptocurrency hedge fund Three Arrows Capital, Zhu Su, recently posted a detailed review of the market on his Twitter account. Su opines that the digital asset market is headed for a big comeback after some time. He recently claimed that the recent price corrections are the only natural reset option for the market, and a lot is happening in the altcoin section.
Reflecting on the matter, Zhu Su claimed that he is not going to remain bearish on the cryptocurrency market for the long term. He also presented four important reasons that allowed a conclusion. Su mentioned that the supply of Ethereum and Bitcoin is decreasing on exchanges. He claimed that investors around the world are on the same page due to international communication channels. He also pointed out other reasons for being bullish.
Su recently told media that on-chain analysis has shown that Bitcoin and Ethereum supply on the top cryptocurrency exchanges have started to shrink. As per his views, the investors are not interested in selling their reserves anymore. He named the best performing altcoins, namely Avalanche, Luna, SOL, and Terra, that have already shown signs of recovery from their latest retractions.
Su pointed out that out of these altcoins, 2 top contenders, i.e., AVAX and LUNA, have been trading in the green for the last 30 days. However, SOL and Terra have more work to do in this regard.
Zhu Su, who is also working as the CIO of Three Arrows Capital, recently claimed in his tweets that the liquidated positions mainly consist of short-term investors. He said that with this new development, the cryptocurrency market has become stronger. He also pointed out that the people who have decided to cash out at this point are not using objective reasoning.
Zu used the term logwealth which accounts for the change of percentage in prices placed at unequal intervals. On the other hand, he also shared the S&P 500 chart that showed price movement for Bitcoin and Ethereum moving into the trenches consistently. Su believes that factors like overhyped alternative tokens, year-end market cool-off, tax-related sales, Huobi incident, and logwealth influences are not the practical explanation to justify the current sell-off. He also suggested that crypto investors have to do very well if they want to make a real profit.