"Previously, it was fun to hear the names of investors near abroad, near Malaysia it's actually hemp."
Below are the words of some young Malaysian investors when the crypto market is in a bearish movement in 2022.
Anthony Pang
Despite knowing that the cryptocurrency market is about to experience a drastic fall, Anthony Pang, a 30-year-old forex trader who invests in several digital assets considers his investment to be a loss if he sells all his assets when the market is bearish.
Pang has a crypto investment portfolio of less than 30% advising individuals who are new to the world of digital assets not to invest all their money in crypto as it also has its own risks.
Muhammad Al Hafiz
A 35-year-old Bitcoin (BTC) trader named Muhamad Al Hafiz said that in less than a year he had invested RM10,000 in crypto after being confident that the market would recover.
Hafiz is known to have become interested in crypto after watching a video on YouTube adding that the digital asset investment he made has caused him to cover his family's expenses through the profits he earned.
Jeffrey Halley
Jeffrey Halley, who works at the forex trading company OANDA as an Asia Pacific market analyst, thinks that crypto is deteriorating when the Federal Reserve (Fed) of the United States (US) acts to raise interest rates more aggressively to fight inflation.
Added to this are liquidity issues and the crypto lending company Celsius which prevents depositors from getting their money back after all of its services were frozen.
George Wong
George from the company Access Blockchain Association Malaysia which focuses on blockchain and crypto development is of the view that the decline in the price of digital assets occurs cyclically and it is not the first time such a decline has occurred.
He also commented that most investors will take steps to reduce their losses by selling their respective crypto holdings when there is negative sentiment surrounding the market.
Wong advises investors not to rush into any crypto purchases as the price may plunge further and they may suffer huge losses if they are not careful.
