Reddit Co-Founder: Crypto Market Drop Led To “Spring Of Crypto Innovation”
Reddit co-founder Alexis Ohanian giving an interview to Yahoo Finance claimed that he believed that fading of hype around crypto currencies and crypto winter led to rehabilitation of the industry due to removal of speculators: they were replaced by people who really believed in the industry. Coinbase head Brian Armstrong also believes that this period might be called “spring of crypto innovation”.
Ohanian notes that all the tech-savvy specialists set up blockchain companies against the background of depressed market. So it is logical to consider industry development in the long term run – the crypto community participants see that people who used to criticize bitcoin and call it scam now start investing in this area.
To recap, the head of crypto hedge fund Pantera Capital Dan Morehead also believes that the current – the second – crypto winter creates good prospects for bitcoin and blockchain. He is sure that the institutional investors will finally enter the crypto market.