Why a bear market is beneficial for cryptocurrency? Explains co-founder of Reddit

Alexis Ohanian has launched a hugely successful Reddit forum directly from the room of the hostel in 2005. After a few years the site has gained popularity among bitcoin enthusiasts, which gave the entrepreneur a rare opportunity at an early stage to observe, interact and learn about community and technology. In 2013 he was closely interested in cryptoheros and created a venture Fund, Initialized Capital. Investment the group has invested in Coinbase and other CryptoStream.

Recently, the founders of Initialized Capital, Garry Tan and Alexis Ohanian talked to Breaker the Mag about the current state of cryptocurrency.

As reported by NewsBTC, Ohanyan spoke about the current state of cryptocurrency markets. According to co-founder of Reddit, the continuing downtrend throughout 2018, is beneficial to cryptosphere. This situation allows less willing to be distracted by extraneous factors. To the question about the current situation, the Prime Ten simultaneously declared that the bear market might continue for some time, but sooner or later the price will go up.

Entrepreneurs also shared their approach to identifying promising cryptoprocta. Garry Tan explained how they separate bacchanalia company from the ordinary. According to him, if the company can compete in the market, it is not so important, decentralized or not. Ohanyan shared his views, but noted that the blockchain, the company may provide services “better, cheaper, faster”.

So how do bears help cryptosphere?

Further colleagues decided to switch to the positive side of a bear market. According to them, the bubble end of 2017 has enabled new and developing projects focus on more important issues. Ten stressed that a prolonged downtrend will end if the members of the community get back to finding real ways to apply the blockchain and cryptocurrency.

When this happened last time, Bitcoin fell back with thousands of dollars to 250, and a lull lasted for several years. Then people started to lose hope, and as a response to the situation appeared Ethereum. Really useful things are born in the last gasp of the cycle.

More data look at cryptodata.

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