The prolonged fall in the cryptocurrency market allows the industry to get rid of speculators, freeing up space for real cryptocurrency enthusiasts. This was announced by the founder of the Reddit social network, Alexis Ohanian, in an interview with Yahoo Finance.
He noted that such mass cleaning is beneficial to the industry’s long-term health.
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.
In February, Reddit attracted $ 300 million investment and reached an estimate of $ 3 billion. The Chinese holding Tencent ($ 150 million), investment firms Sequoia and Fidelity, as well as the musician Snoop Dogg, took part in the round of financing.
Earlier, the head of Pantera Capital, Dan Morehead, said that market participants should not worry about cryptosis, as the current situation opens up good prospects for the future development of the bitcoin and blockchain industry.
A similar point of view was expressed by the founder of Morgan Creek, Anthony Pompiano, in November 2018, stating that the bear market is throwing "tourists" out of the game.