The prolonged fall in the cryptocurrency market allows the industry to clear itself of speculators, making room for real crypto enthusiasts. This was announced by the founder of the Reddit social network, Alexis Ohanian, in an interview with Yahoo Finance .
He noted that such a mass cleaning is useful for the long-term health of the industry.
“The hype has gone and the time has come for quality projects for the benefit of the cryptocurrency infrastructure, ” says Alexis Ohanian.
The founder of Reddit also refuted the statement of some skeptics about the “death of Bitcoin”.
“My friends continue to work actively in the cryptocurrency and blockchain sphere. They are developing more and more new solutions built on innovative technology, ”he said in an interview.
We add that in February, Reddit raised $ 300 million of investment and reached an estimate of $ 3 billion. Chinese holding Tencent ($ 150 million), investment firms Sequoia and Fidelity, as well as musician Snoop Dogg, took part in the round of financing.
Earlier, the head of Pantera Capital, Dan Morehead, stated that market participants should not be worried about “cryptozymes” , since the current situation opens up good prospects for the future development of the bitcoin and blockchain industry.
A similar point of view in November 2018 was expressed by the founder of Morgan Creek, Anthony Pompiano, saying that the bear market is throwing “tourists” out of the game .
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