According to Bloomberg, on November 14, 2018, after maintaining a stable level for a long time, Bitcoin fell to $5,202. The value of other tokens also fell. However, according to Reddit creator Alexis Ohanian, the fall in the price of cryptocurrency is a necessary step for the further development of the area.
Mati Greenspan, a senior analyst at eToro, said of the bull run: "It's hard to say when it will start. Nobody can predict it now."
Stephen Innes, head of Asia-Pacific trading at Oanda Corporation, believes a hard fork destabilized the industrymuch more than anyone could have imagined. According to Innes, he created a lot of hype, uncertainty and doubt around himself.
Despite this, Reddit creator Alexis Ohanian is glad that the cryptocurrency market is going through difficult times in 2018. During the interview, he noted that in times like these, people tend to focus on the most important and fundamental aspects. In addition, he believes that the fall in the value of cryptocurrency will lead to a decrease in the number of hackers, scammers, and charlatans who love the digital currency industry.
The Reddit founder also said that despite the market crash, he still receives many business offers related to blockchain technology. And although there are fewer offers, these companies are much more serious and also have much greater potential than the companies offering cooperation in 2017.
He believes this is a positive sign because the skins have fallen off and these people will be serious about creating technologies and innovations that will be used in ten years, rather than just trying to make a quick buck.
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