- Nick Colas, the first Wall Street analyst to extensively cover BTC, says now is not the best time to buy cryptos. - According to him, fundamental engagement is down when compared to 2017. Nick Colas, the first Wall Street analyst to extensively cover Bitcoin , has recently warned cryptocurrency investors that now isn’t the best time to buy, despite the recent rally. Wall Street's First Analyst Urges Caution on Buying Bitcoin. Wall Street's first analyst Nick Colas has new recommendations for investors, and he says to avoid buying it. DataTrek Research co-founder Nick Colas told to CNBC that Buying Bitcoin is not the right time for as of now. So it is better to avoid it. Bitcoin analyst Nick Colas said in an interview with CNBC that the enthusiasm during the 2017 bull run “has now morphed into a general craze… I think of Bitcoin as kind of a gateway drug”. In June 2019 on Bloomberg Markets, Messari Inc co-founder and CEO Ryan Selkis suggested Facebook’s Libra could act as a ‘gateway drug’ for crypto investors, potentially leading them to Bitcoin ... Data Trek Research- Nick Colas say that there is a lot of lateral movement currently in the market opposed to investor money. That means investors take money out of bitcoin and put it into Litecoin and Ethereum which later show gains in them as they get used in searches while there is an increase in market cap. To this moment Google has been the best and very reliable indicator as it simply ... Nick Colas, the Wall Street brokerage analyst who started covering Bitcoin (BTC) in 2013, ... The charts for the analysis are provided by TradingView. Altcoin Bitcoin Cash Bitcoin Price Cardano EOS Ethereum Price IOTA Litecoin Price Analysis Ripple Stellar. About the author. Related Posts. May 19, 2020 Ethereum Price Analysis for May, 19th – ETH Looks Very Promising. July 10, 2020 One of ... Colas has written Convergex’s popular Morning Market Briefing for 14 years and has a well-established reputation among Wall Street professionals. After the collapse of the market earlier in the year, he rejects the idea that investors may now have the opportunity to pass the action again. Colas shared his worry about the relatively small wallet growth […] According to NBC News, Nick Colas the co-founder of DataTrek research has said the past few months of volatility should come as no surprise: “The issue with Bitcoin is the price is driven 100 percent by market psychology It is still a new technology and in the early days of adoption, so there isn’t a lot aside from public confidence to underpin its value.”
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