Venture capital company executives: the bear market in the bitcoin like the dotcom bubble of the Amazon

Crypto Oracle said Vc firm partner Lou Kerner told CNBC in an interview yesterday: the current encryption currency price collapse of the Internet bubble phenomenon and the phenomenon is similar to the beginning of twenty-first Century.

In CNBC’s “Worldwide Exchange” in this episode, Kerner said: big companies to survive in this storm like crypto currency from the Internet bubble in the past. He is also the e-commerce giant Amazon, for example: “if you go back to the Internet bubble period, you will find that the situation now with extraordinarily similar. Now that many of us find direction in encryption time. Amazon, can be said to be one of the most famous in the history of mankind, which was within two years, its market capitalization fell more than 95%.”

Amazon listed in May 1997, at $18 per share. By December 1998, the company’s share price soared to $more than 300 per share, but in March 2000 after the Internet bubble burst, the company’s share price plummeted to less than $6 per level. However, after over time, Amazon successfully become the second home market capitalization of $1 trillion company.

Kerner said that the current fluctuations and long-term BTC investors encounter compared to the situation wasn’t what he recalled during 2013 day, the market fell 70% overnight. Kerner added: “this is where the significance of investment encryption technology.”

He also pointed out that the impact of all major technological changes have been overestimated in the short term, but in the long term are undervalued. After the venture further said that bitcoin is the largest ever stored value means “, with the passage of time, this has the leading technology of encryption currency its value will be more than gold.

When asked about the recent slump in the currency market encryption behind what is the possible cause, Kerner said, “the encryption market has been very fragile, because in addition to the firm belief, most of them have no real value.”

Many industry experts on encryption market in the future have a positive and optimistic attitude. Susquehanna, a US based global trading and technology company. The digital asset director Bart Smith said during the market crash, he is still a firm belief in the BTC. He stressed that encryption currency trading is a long game, and every great idea is with adventure attribute”.

Vc firm BlockChain Capital partner Spencer Bogart also believes that despite the current in a bear market, but the encryption currency still has enormous potential.

Leave a Reply

Your email address will not be published. Required fields are marked *