Reddit’s Ohanian Believes Bear Market Erased Speculators

Author: 
Dylan B
Date: 
February 25, 2019
Read time: 
2 minutes
Alexis Ohanian
Crypto Winter
Bullish

In a recent interview with Yahoo Finance, co-founder of Reddit and well-known crypto enthusiast Alexis Ohanian stated that the most recent crypto winter we have experienced has erased the speculators in the industry and has allowed for true believers and builders to enter the space and begin further development.

In a recent interview with Yahoo Finance, co-founder of Reddit and well-known crypto enthusiast Alexis Ohanian stated that the most recent crypto winter we have experienced has erased the speculators in the industry and has allowed for true believers and builders to enter the space and begin further development.

During the interview, Ohanian stated that the market is currently experiencing what is known as a “crypto winter”, which is essentially a period in which the prices of crypto remain depressed and experience little growth. That being said, he believes that this bear market has managed to decrease the hype that drove prices so high in the past and eliminate speculators who were not adding any value to the industry. He believes that this is a good indication for the industry, stating:

Now, it's still to be seen. But what's a strong signal to me is still some of the smartest people I know in tech are working on solving these problems. They're building companies that are built on blockchain. The hype is gone. The fervor is gone. But I think that's a good thing.”

The topic of JPMorgan Chase’s announcement about the release of their JPM Coin, a crypto designed to help improve the settlement efficiency of their operations, was also brought into the conversation. Ohanian pointed to this story as proof that more innovation is taking place and that we are seeing larger players entering the industry now that the hype has settled down.

While Ohanian’s predictions about cryptocurrency in the past did not prove true, he is still very much a believer in the market today.

With companies such as JPMorgan Chase taking part in the crypto industry, have you become interested in using crypto yourself? Are you having trouble fully comprehending the technology behind crypto but want to start investing or possibly want to launch your own project? If so, visit our crypto 101 blockchain course today to learn everything you need to know about blockchain technology and the projects it helps to develop!

 

Posted by Dylan B

Dylan Buckley is a writer based in California. He became interested in cryptocurrency upon discovering it in 2014 and soon started investing as well as writing for a wide variety of clients and crypto-startups in the space. When he is not producing content for individuals and businesses, he is typically working on his own self-development content or making music.

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