Former Research Analyst Claims That BTC Bottoming Is A Good Thing

Over the past few days, the price of Bitcoin has seen some decent gains and has nearly gone above the $4,000 mark at the current time of writing. But according to one of the founding partners at the New York hedge fund Tetras Capital Alex Sunnarborg, the quicker Bitcoin tanks, the better.

Speaking to Forbes, Sunnarborg said, “calling [the bitcoin bottom] is very difficult. That’s part of the reason I’m really thankful that we’re in the position we are right now. We can hedge ourselves, remain more neutral, and not have to call that exact price or timing bottom. I’m not confident right now. Our portfolio is relatively neutral. We have cash and short positions.”

The sworn enthusiasts of Bitcoin is eagerly waiting for the crypto market to just crash and hit the bottom of the bottom.

You might think that this is a very bearish way of thinking but in reality, Sunnaborg’s intentions behind this are very bullish. According to him, as soon as the market bottoms out, it will then be able to rehabilitate and repair itself.

Furthermore, Sunnarborg believes that it would be best for the Securities and Exchange Commission to ‘crush the bad actors’ in the crypto industry in order to help clean it up. If there was a so-called crypto apocalypse right now, this would be the best thing for the industry according to Sonnarborg as then the crypto space can start again.

“What would be really good for a market bottom to happen would be for every potential bad thing to happen immediately. I would love to see the SEC come down on people really hard.” Sunnaborg continues, saying, “one of the biggest problems in this space is there are so many bad actors, and so many were related to ICOs. The SEC just has such a massive task ahead of them. One way to think about the bottom is that it happens when all the bad news gets washed out. At that point the only thing to do is go up, and you can’t really talk about any negative catalysts anymore, because they’ve all happened.”

Essentially, the Tetras Capital partner is bord of all of the bad news flooding into the industry in regards to all the dodgy activity that occurs on almost a daily basis. The former research analyst said that the crypto ecosystem needs to be more reputable and regulated in order to fix the bad image tied to it.