A former managing director at Morgan Stanley says Bitcoin (BTC) and Ethereum (ETH) are being positioned as store-of-value assets amid global uncertainty.
In a new interview with Anthony Pompliano, Wall Street veteran Jordi Visser says the world is facing greater uncertainty today than at the beginning of the Middle East conflict, despite the fragile ceasefire between the US and Iran.
According to Visser, he’s specifically keeping a close watch on the price action of Bitcoin and Ethereum, saying that his bullish stance on the two largest crypto assets by market cap will be validated if they shatter key levels.
“The world is absolutely more unstable than it was on February 27th. There is no question about that. We have less certainty. We’re going to have energy hoarding around the globe. We need to figure out ways to solve the problem and not be dependent on the rest of the world.
I just think Bitcoin right now, you have to watch it. And if we start to trade higher, I’ll give everyone a level, if we trade above $76,000 and at the same time we see Ethereum above $2,400, I believe that is the beginning of a move that will be sustainable this year, because I don’t think we’re going to have a recession.
I think inflation is going to stay elevated. And I think people are going to need to find something that is making money in a world where the S&P is not moving anywhere.”
Visser suggests that bullish momentum in BTC and ETH will lure in more investors as other assets like gold and the S&P 500 have struggled so far this year.
Bitcoin is currently trading at $70,683 and Ethereum at $2,189. Meanwhile, the S&P 500 is valued at 6,816 and gold is trading at $4,667.
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