According to MohamedEl-Erian, chief economist of Allianz Germany. When Bitcoin plummeted by nearly $3,000 in the “crypto winter” of 2018, he bought an unknown amount of Bitcoin.
Subsequently, he sold it at the end of 2020, when Bitcoin returned to the $19,000 level.
A few months later, Bitcoin hit an all-time high of more than $60,000. The economist said. Only when some speculators in the market are “shaken”, he will rest assured to buy again.
El-Erian divides Bitcoin investors into three categories: “fundamentalists” who have participated in them for a long time, professional investors who want to diversify their portfolios, and “speculators” in day trading.