CEO Shapeshift: a sharp drop in Bitcoin is a sign of euphoria bears When to expect the growth of cryptocurrencies

The market has dropped, Bitcoin will never recover, and instead Lamby have to continue to drive on the Volga?! As it is not so. Erik Voorhees believes that everything will work out, and quite soon.

Cryptocurrency market is heading into the abyss — it is this idea appears after you look at the fully red coins on Coinmarketcap. Last week the cryptocurrency has broken some important resistance levels and is on track to $ 3,000. It would seem, hopes for Lamba has long dried up. However, Shapeshift CEO Eric Voorhis have a different opinion on this.

The triumph of the bears

Sunday on Twitter businessman appeared quite interesting message.

“Collapse is a sign that the bears reach the stage of euphoria.”

By this phrase, Voorhees implies the famous market cycle, which is known to everyone on wall street. Remember in December everyone was talking about Bitcoins for $ 100,000? Then the bulls were at the peak of euphoria and didn’t notice any signs of an impending bloody correction. Now you can draw a parallel — now everyone is talking about “futility of the crypts” and lower the price of Bitcoin down to zero.

However, no one yet knows how long the current phase of the market cycle. Most analysts agree that the “real bottom” is waiting for Bitcoin in the area of $ 3,000. Before this also said chief analyst, eToro’s Mati Greenspan.

Recently, the Voorhees added one more detailed remark about the future of the stock market.

“Of course, much time has passed since then, when I got to the crypt. Every financial institution in the world is closely watching her. Every government is interested, or at least trying to regulate cryptocurrency. Tens of millions of people used Bitcoin, a large part of the world at least knows about the crypt. So Yes, it progresses, but there is still a long way.”

Finally, Voorhees explained that the invention of digital assets can be compared with the advent of the printing press or the Internet. In addition, the cryptocurrency will bring “great benefits to mankind” through decentralization.

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