While there are always going to be naysayers and jittery investors who jump ship too early before Bitcoin reaches its true glory market level, there are some that understand the long-term benefits and believe that Bitcoin is stronger than ever. Hear the opinions of top crypto investors talk about the optimistic outlook of the cryptocurrency market and reiterate that this is not the worst Bitcoin Bear Market,
At Token2049, Hong Kong’s premier crypto event, the biggest players in the industry got together and sat down with NewsBTC. During the round of interviews, it emerged that there is a group of prominent investors that believed that this “crypto winter” is not the worst ever.
Litecoin’s creator Charlie Lee said that the crypto value fall is similar to that of what we saw in 2014-2015, but it will not fall off the face of the Earth. He elaborated:
“During the last bear market, I remember it got to a point where people just didn’t think that it was going to come back. People just weren’t optimistic about the price at the time. Now, I think we haven’t gotten to that point yet, and maybe we might not go there this time, which will be great.”
Other crypto players such as Lisk’s Max Kordek said it was easy to follow the earlier sentiment in bear times and “pack your bags and say your goodbyes.” Kordek believes that there is more blockchain development right now than at any other point in this industry’s decade-long history. “Economics-wise, activity-wise, and sentiment-wise, the last one was much, much worse.”
Another analyst at Ledger, Pascal Gauthier was in agreement with Kordek and Lee. Gauthier told NewsBTC that 2015-2016 was much like “nuclear crypto winter,” and nobody wanted to invest in Bitcoin. This time, however, it is “just a winter,” and most expect a spring sooner rather than later.
“And everyone, including institutions, is just building infrastructure and tech to prepare for that eventual shift… There are many things coming that are much bigger than crypto itself, and large institutions are working on this.”
In the broader cryptosphere other crypto pundits also are starting to talk positively around the coin. Most seem sure that this cycle isn’t anything permanent and that the ecosystem is actually budding.
Spencer Bogart of Blockchain Capital spoke on Bloomberg TV stating that Bitcoin is currently the world’s most compelling asset. While it may not reach its full potential in the next few months, it is still surrounded by innovation, talent, and capital. The prominent crypto investor explained that the levels of entrepreneurial talent and institutional interest hasn’t ceded with the price. He added:
“This industry hasn’t slumped at all really… We operate a fund that invests in both digital assets and companies themselves, and we see more higher-quality companies come into [our offices] every day. Behind the scenes when you think of the macro environment, with rising debt levels, money printing, the tension between nationalism and globalism, and jurisdictional competition, there’s a strong case to be made that Bitcoin is the most compelling asset in the world right now.”
NewsBTC’s Joseph Young also expressed optimism on Twitter. He said that while many investors are worried about a fully-fledged winter, stakeholders are still pushing ahead. As the analyst explained, “companies are building and expanding very rapidly.”
Travis Kling, a former Wall Street investor, and now head of Morgan Creek and self-described libertarian, noted that if Bitcoin is to eventually see a resurgence, the current array of shortcomings, including the countless layoffs, exchange collapses, stringent regulation, and cries that “crypto is dead,” will be just the tip of the proverbial iceberg.
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