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Despite market situations, the co-founder of IoTeX asks crypto investors to hodl

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According to IoTeX co-founder Dr Raullen Chai, the market could "easily reach new all-time highs by the end of the year."

Dr Raullen Chai, co-founder and CEO of blockchain network IoTeX, is advising crypto investors to keep on to their crypto while the market drops due to growing concerns in Eastern Europe.

The Russian army has lately begun its push on Ukraine, launching missiles at the continent's second-largest country. According to data, crypto markets then dived, with all of the leading coins plunging between 8% and 18%. Considering the present market circumstances, Chai advises holders to reconsider selling their digital assets.

While it is not inconceivable for Bitcoin (BTC) and Ethereum (ETH) to drop below $10,000 and $800, respectively, Chai thinks the market will "easily reach new all-time highs by the end of the year." He elaborated:

“I would certainly not encourage investors to sell their crypto now in the hopes of buying back at a cheaper price, as the reality is no one knows when we will reach the bottom and when the market will rally again.”

Though Chai's overall view is positive, he has highlighted reasons that could push crypto market values even lower. According to the IoTeX co-founder, the Russian invasion, rising interest rates, and the possibility of additional COVID-19 variants could all have an adverse impact on the market in the immediate term:

“Additionally, tensions between Russia and Ukraine — in addition to other geopolitical and trade tensions — should be monitored, as they can unnerve institutional and retail investors and lead to huge price changes due to reduced risk appetite.”

However, recent research from strategy firm Pantera Capital indicates that Bitcoin is now reasonably cheap, with various factors influencing the next rise.

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