Malaysia Isn't Worried About the State of Crypto
The crypto space is not doing well as of late. Many well-known coins like BTC and ETH keep crashing like crazy, but according to young investors in Malaysia, the situation is not something to worry about, and they keep investing as though nothing has changed.
Malaysia Crypto Trading Is Staying Strong
Anthony Pang, for example, is a 30-year-old investor who got into crypto only recently. In a recent interview, he commented that he is currently letting it hold. He’s confident things will go up in the future and he believes the only people who experience losses are those who cash out when the bears are taking over. He stated:
I only consider it a loss if I cash out in this bear market… Invest only the money you can afford to lose.
Another trader in Malaysia named Muhamad Al Hafiz Hambali is 35 years of age. He is not concerned about the state of the space nowadays, and he does not feel any anxiety about the volatility or up-and-down nature of cryptocurrencies. He says that so long as one is aware of the risks, there shouldn’t be anything to get super upset about. He commented:
I have spent almost RM10,000 in less than a year. Now we are facing a ‘minor hiccup’ and I believe the situation will return to normal soon.
He initially got into the crypto space by watching YouTube trading videos. This enticed him to take part, and he doesn’t regret his investments despite everything being down at press time. He said:
I find it very interesting and initially I made a lot of money.
Jeffrey Halley – who works in forex trading – said that Malaysia and other countries are being affected by inflation in the U.S. This is causing several assets – not just cryptocurrencies – to fall like mad at the time of writing. He also says there is a lot of worry about what the Fed is going to do to make measures stronger for the economy. He stated:
It has been exacerbated by liquidity issues and crypto lender Celsius stopping depositors from getting their money back… Well, cryptocurrencies and their spectacular rally are perhaps the most strident example of speculative excess that occurred as central banks slashed rates to zero percent and qualitatively eased over the pandemic.
Are People Panic Selling?
He continued with:
Now that inflation is entrenched for the first time in 20 plus years, and central banks globally are tightening monetary policy, cryptos, like equities, are facing a reckoning over their true valuations as interest rates rise. Speculators are being hit the hardest naturally and much like in 2017, you will see many such participants exit the market with the remaining projects and investors building to the next cycle.
He also commented that at this time, there is a lot of panic selling affecting the market.
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