Reddit Co-Founder: Bear Market is Good For Bitcoin and Cryptocurrency Market
The Co-Founder of Reddit, Alexis Ohanian believes that the largest bear market in Bitcoin history is good for Bitcoin and cryptocurrency market. Ohanian spoke about Bitcoin and cryptocurrency in an interview on 22 Feb.
Ohanian believes that the current bear market is good for the cryptocurrency community. The current bear market cleans the junk from the cryptocurrency market and only genuine projects left behind when the summer (bull) comes.
Ohanian said that the bear market eliminates the speculators and scam projects out of the market and only the true crypto lovers stayed that develope real use products on Blockchain technology.
He added that the hype of Bitcoin and crypto is settled down. Scammers have less interest in Crypto now and there is a lot of room for the real Bitcoin lovers for development.
Bitcoin gets a lot of interest in 2017 and the price of Bitcoin surges around 20 times at the starting of 2017 and made an all-time high of $19670.
Ohanian also shares his views on the JPM coin. He said that this is an indication of the real use projects. JPMorgan Chase one of the largest banks of U.S recently announced that they are launching their own JPM coin for the fast and secure settlement of the transactions.
Ohanian predicates that Bitcoin and Ethereum may hit $20000 and $1500 in 2018. However, none of his prediction hits the target.
