Lou Kerner (Lou Kerner), partner at venture capital CryptoOracle, in an interview with CNBC compared the bitcoin with Amazon emerging in the early 2000s, the dotcom crisis and later became only stronger.
Kerner is confident that a strong coin it is necessary to consider the same position that large companies are emerging from the crisis.
“If you look back at the Internet bubble, which many of us in Cryptoprotected perceived as a kind of guide, you will see that the Amazon is probably one of the greatest companies in the history of mankind, has fallen by more than 95% in two years”, — said the representative of CryptoOracle.
Amazon became a public company in may 1997 when one of his stock was worth $18. By December 1998, the rate of the company’s shares surpassed $300, but after the dot-com bubble exploded in March 2000, the stock price fell to $6. However, over time, Amazon has managed to become the second American company, reached increased market value of $1 trillion.
According to the arguments of punch, though criptionveterinary and not for the faint of heart, the current market volatility is nothing compared to what I had to face a longtime bitcoin investors: he recalled the fall of the market by 70% in just one night in 2013.
“This is what is involved in investing in cryptocurrency in principle”, — said the guest of CNBC.
Kerner also drew attention to the fact that the impact of all major changes in the field of technology is overestimated in the short term and underestimated in long term.
According to a venture capitalist, bitcoin is “the most awesome store of value ever created”, and once the leading bitcoin will surpass gold.
“It won’t happen overnight,” warns Lou Kerner.
As for the current downturn, he suggests that “crypto-currencies were so weak because most of them have no intrinsic value underlying, in addition to believing in them.”
It is worth noting that many industry experts share a positive Outlook for the future of the cryptocurrency market. Bart smit (Bart Smith), head of digital assets in the large global company Susquehanna, said that still believes in bitcoin, while continuing to remain a long-term supporter even in the face of market collapse. From his point of view, cryptotrading is a “long game”, while “every great idea unstable”.
Spencer Bogart (Bogart Spencer), partner at venture capital Blockchain Capital, also believes in a “still huge” possibilities of cryptocurrencies. Recently in an interview with Bloomberg, he spoke about his “mono-crypto” position, stressing that bitcoin has the largest network effect and “five times the cryptocurrency No. 2”.
By the way, in may, Bogart noted that “I would bet that bitcoin will close the year with a rate of at least $10 000”. Does not change in these days of the prognosis and well-known crypto-analyst Tom Lee: in spite of the situation on the market of his interest — $15 000 by the end of 2018.