From this recent video:
“The requirements for me are liquidity number one, so you know the old saying, which is in my Trading Sardines book, it’s never a problem getting into a market, it’s always a problem getting out when you want to get out. You want to have the liquidity there.
For that very reason, I have really refrained from getting involved with the crypto markets, even though they lend themselves at times to being technically nice. They’re new markets, we’ve seen Chinese servers go down, we’ve seen pockets of illiquidity and it’s not worth it to me to trade a market where it’s not scale-able.
If I’m putting in the time and effort to do something, I don’t necessarily want to do it on one lots, I want to know that I could do it on size if I chose to do it on size, so it has to have liquidity to get out and it has to be scale-able and I don’t find crypto to have either of those requirements.
There is so much opportunity in lovely trading markets out there, why do I want to deal with a can of worms?”
