Bear market helped eliminate speculators, according to the co-founder of Reddit
Reddit is one of the platforms most used by members of the cryptographic community, so it is not surprising that its co-founder, Alexis Ohanian, has become involved with this industry.
Ohanian became a great believer in cryptocurrencies, investing large sums of money in the market. However, like everyone, it was somewhat hit by the downtrend that these assets presented during 2018 and from which they have not yet recovered.
However, in the midst of widespread pessimism among members of the ecosystem, the co-founder of Reddit said that the cryptographic winter had also brought good things, such as the elimination of speculators in the market.
According to Ohanian, the fall in the price of digital currencies helped to purge the ecosystem of speculators, leaving only the true believers in technology. The elimination of these exaggerations is good for the industry, since they will help in its development. “The hype is gone. The fervor is gone. But I think that’s a good thing, “he said.
“Now, it remains to be seen. But what seems to me an important signal is that some of the smartest people I know in technology are working to solve these problems. They are building companies that are built in Blockchain. “
He highlighted the fact that companies like JP Morgan are showing more interest in entering the world of encryption, although the bear market continues, only proves his theory. So much so that he hopes that the next digital currency that the financial institution, JPM Coin, will launch will increase the efficiency of settlement in the bank’s operations.
As for the prices of cryptocurrencies, the co-founder of Reddit kept the same predictions he made for 2018: Bitcoin will reach $ 20,000, while Ethereum will reach $ 1,500. However, both digital currencies last year did not pass the 7,200 and 400 dollars respectively.
During the last months, many have concentrated on the negative consequences that the so-called “cryptographic winter” has brought, which is totally understandable due to the strong repercussions it has had on several companies and investors. However, it is good to know that not everything is bad, and that this downward trend could bring something good to the cryptocurrency industry.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.