Qiao Wang - former product manager at crypto analysis firm Messari - said Decentralized finance (DeFi) makes him remember Bitcoin (BTC) , and Ethereum (ETH) before these two cryptocurrencies appeared giant spikes.
In a tweet, Wang has compare DeFi with Bitcoin and Ethereum in its early days:
From an investment point of view, BTC pre-2013 and ETH pre-2015 were once-in-a-lifetime asymmetric bets. DeFi pre-2021 is once-in-a-decade IMO (until proven wrong). If you've missed the first two don't miss the latter.
- Qiao Wang (@QwQiao) September 9, 2020
From an investment standpoint, BTC before 2013 and ETH before 2015 are the only "sure win" bets in life. DeFi before 2021 is an IMO once in a decade (until proven wrong). If you missed the first two sections, don't miss the latter
Although Wang has a long-term upside tendency towards this nascent sector, he warns that there are a lot of bad guys out there targeting investors in the space.
There's been a lot of crap over the past two months but don't be distracted by them. Try dozens actual product and you will better understand the benefits of DEFI brings.
Wang's comments came as Bitcoin failed to take profits last week. The correction across the crypto market coincides with the decline in the gold and stock markets.
Besides, Wang also believes that in the short term, Bitcoin will have a close correlation with the US stock market.