- Alexis Ohanian says the bitcoin bloodbath has killed all speculators, leaving behind only true believers and builders
- Ohanian has also made it clear that crypto investors should always focus on the long term
While many bitcoin and altcoin investors may have lost vast sums of money due to the prolonged slump in the price of blockchain-based cryptoassets, Alexis Ohanian, a crypto big whale, Reddit co-founder and Coinbase backer has said in an interview with Yahoo February 21, 2019, that the cryptocurrency market crash of 2018 is actually a good thing for the industry.
Bitcoin Speculators have all Fled
Present at the latest episode of “influencers with Andy Serwer,” a weekly interview series that features top business executives, politicians and famous celebrities, the big man noted that while the 80 percent decline in the price of bitcoin (BTC) is a “painful thing,” it is good for the market in the long run.
“Speculators have fled, and the people who are now building on crypto are the true believers. They’re seriously building the infrastructure that would usher in the next bull market,” he declared.
Ohanian’s comment is not far from the truth, as the market downturn has not deterred real innovators from launching new crypto-focused creations.
More Innovators Joining the Crypto Bandwagon
“People are now building companies upon blockchain technology. The crypto fever is gone, the fervor is gone. But I think that’s a good thing for all of us who have always believed in the technology,” Ohanian added.
As reported by Blockchain Reporter on February 21, 2019, the newly launched Samsung Galaxy S10 premium smartphone comes with inbuilt cryptocurrency wallet, a strong indication that crypto is steadily on the match towards mainstream adoption.
“Galaxy S10 is built with defensive grade Samsung Knox, as well as secure storage backed by hardware, which keeps your private keys securely,” noted Samsung.
In related news, on February 14, 2019, Blockchain Reporter informed that JP Morgan had entered into the history books as the first U.S. bank to launch own stablecoin, a significant feat for the nascent crypto industry considering the fact that the CEO of the bank is a staunch bitcoin critic.
At press time, bitcoin maintains a 51 percent dominance of the entire cryptocurrency market with a price of $3,985 and a market cap of $69.96 billion, as seen on CoinMarketCap.