The protracted drop in the cryptocurrency market allows industry to be cleansed from speculators, freeing up space for real cryptoendoliths. This was stated by the founder of the social network Reddit Alexis Ohanian in an interview with Yahoo Finance.

He noted that this mass purge is useful for long-term health of the industry.

“The hype is gone and the time has come for high-quality projects for the benefit of the cryptocurrency infrastructure,” says Alexis Ohanian.

Founder of Reddit denied individual skeptics of the “death of bitcoin”.

“My friends continue to work actively in cryptocurrency and the blockchain. They develop more solutions, built on innovative technologies”, — he said in the interview.

We will add that in February, Reddit raised a $300 million investment, and reached a valuation of $3 billion In a funding round participated the Chinese holding company Tencent ($150 million), investime Sequoia and Fidelity, as well as musician Snoop Dogg.

We will remind, earlier the head of Pantera Capital Dan Morad stated that market participants should not worry about the “kriptimi” because the current situation bodes well for the future development of bitcoin and the blockchain industry.

A similar view in November 2018 was expressed by the founder of Morgan Creek Anthony Pompliano, saying that the bear market crashes. “tourists”.