Crypto’s biggest critics often argue that the digital assets have virtually no intrinsic value, that the technology underlying it has failed to prove its usefulness, and that the market for digital currency is built on little more than hype.
And that’s all true, according to a report by researchers at Starkiller Capital, a crypto-focused hedge fund. But it doesn’t mean you can’t make money from it.
Crypto trading is essentially a “hot ball of money” bouncing from one digital asset to the next, driven by an ever-shifting narrative about innovation and potential future value, according to the paper’s authors, Leigh Drogen, Corey Hoffstein, and Kevin Otte. At any given time, they write, there are a few dominant narratives driving cash into the crypto space, amplified by the fact that crypto market participants are “very online.”
Source: Crypto is a ‘hot ball of money’ with very little intrinsic value – CNN
