This financial advisor is keeping bullish on crypto technology
- Bitcoin rallied today even after the Signature Bank news late last week.
- Financial advisor Douglas Boneparth is keeping bullish on blockchain.
- Crypto analyst Altcoin Sherpa shares his outlook for bitcoin price.
Bitcoin rallied sharply on Monday even though the crypto space has lost both of its primary banks in recent days.
Douglas Boneparth’s take on blockchain technology
Late last week, the Federal Deposit Insurance Corporation put up the shutters for Signature Bank and took control of its deposits.
Still, the renowned financial advisor – Douglas Boneparth is keeping constructive on blockchain and decentralised finance at large. Speaking with CNBC this morning, he said:
Most financial advisors like myself aren’t going to make the recommendation for a client to buy or sell crypto. But I’m still bullish on the technology when it comes to crypto.
Ethereum climbed all the way back to just under $1,700 today as well.
Here’s what Boneparth recommends you do
Remember that the Signature Bank news arrived only days after its peer Silvergate Capital Corp said it will wind down operations and liquidate its bank.
Still, Boneparth doesn’t recommend simply passing up on the crypto space at large. In his CNBC interview, he added:
The best thing that you can do, almost anyone, is take the time to learn about the technology and learn how decentralised finance works a little bit. It would go a long way.
Also on Monday, crypto analyst Altcoin Sherpa said a meaningful break above $25,000 will established $30,000 as the next major target for Bitcoin.