Carlos Maslatón and the price of Bitcoin: rallies, subjectivity and market dynamics.
Within the framework of the second edition of the cycle of crypto talks at the Faculty of Economic Sciences of the University of Buenos Aires (UBA), organized by the Decrypto.la exchange, the Argentine Carlos Maslatón, lawyer and financial market analyst, who along with Iván Tello, co-founder of Decrypto.la, and Axel Becker, content manager, analyzed the crypto market and its situation. Nearly 500 people attended the event.
Carlos Maslatón emphasized the main characteristics of the Bitcoin project and its potential: transactions without intermediaries, decentralization, limited supply, and financial freedom to transfer value when one wants to whom one wants.
Maslatón’s Views about Bitcoin
“A ban-proof financial product was created,” said the financial market analyst, adding that, “banning Bitcoin is like banning the sun or the moon; it is impossible”.
Given the progress that this technology has had and the growing adoption, “it is illogical to think that someone could put a stop to it. Popular support for the crypto world is so great that it is unstoppable,” he said.
Carlos Maslatón estimated what price Bitcoin could reach in this cycle, according to the structure that it has been putting together: “I consider that we are in a new upward trend. I see two objectives: one can be USD 96,000 or 116,000, and the other, more long-term, is USD 399,000”, estimated the analyst.
Human Behavior is the Key
The lawyer and enthusiast of the crypto world referred to his vision when analyzing the price of Bitcoin. The specialist believes that the key is to attend to human behavior in order to predict where the price of Bitcoin may move, something that is also true, according to Maslatón, for the dollar or any other value reserve asset.
As an example, Maslatón explains that during rally periods some investors choose to sell to take profits. This, in turn, pushes the price down and causes holders to panic as their investment depreciates.
The situation is even worse for investors who bought at the higher price, as they will tend to resist buying until the price returns to the resistance it had previously touched. “It is very likely that those who have entered in these last phases have leveraged themselves, with which they are forced to sell down,” he explained.
Thus, the lawyer continued, a spiral of pessimism creeps in, which enhances the initial fall. “This is human behavior; the economy is human action and is subjectivity”, he declared.
“I make this call in the Faculty of Economic Sciences to see prices with a calmness different from the nervousness with which those who believe only in the fundamentals want to analyze them: I buy because it is going up or I sell because it is down,” he said.
Later, Maslatón stated that it is wrong to apply the concept of equilibrium level. According to his vision, the market is dynamic by definition. “There is nothing balanced in the world. It is continuous movement. Nothing ever finds its level. It is enough for one to declare that prices have come here to stay for the opposite to happen,” he said.
Finally, Maslatón admitted not having any interest in buying Shiba and Doge, nor NFTs. In regards to the possibility of dollarizing the Argentine economy, he concluded that, “to carry out dollarization, the State should confiscate 97% of the citizens’ assets. It is impossible for this to happen at this time, it is not feasible.”
By Audy Castaneda
