The prolonged decline of the crypto-currency market allows the industry to clear itself of speculators, freeing up space for real crypto-enthusiasts. This was stated by the founder of the social network Reddit Alexis Ohanian in an interview with Yahoo Finance. He notes that such mass shake up is useful for the long-term health of the industry. The founder of Reddit denied the claim of some skeptics about the “Bitcoin’s death”. We shall add that in February, Reddit attracted $300 million from the Chinese holding Tencent ($150 million), investment firms Sequoia and Fidelity, and Snoop Dogg, reaching the $3 billion mark. Earlier, the head of Pantera Capital Dan Morhad said that market participants should not worry about the crypto winter, as the current situation opened up good prospects for the future development of the bitcoin and blockchain industry. In November 2018, a similar point of view was expressed by the founder of Morgan Creek Anthony Pompliano. He said that the bear market made “tourists” leave the game. |
