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Since the Bitcoin industry entered the end of October, there has been a desirable growth in cryptocurrency research queries, despite the downward trend that has shocked cryptocentric investors worldwide. According to Ethereum World News, according to Google Trends, the "Bitcoin" query has risen to a maximum of four months. Even the search term, "Bitcoin Cash", has seen a remarkable explosion in volume.
Tom Lee and Mati Greenspan, two industry experts, have both commented on this trend, with the former defining the "interesting" statistic, while the latter noted that "we are back". And, curiously, the mainstream media has taken up this renewed trend, recently covering the cryptosphere incessantly and through a variety of different media.
CNBC, for example, has recently begun inviting cryptosphere executives, analysts and researchers to make appearances on their television segments, which have become quite famous for their (sometimes inaccurate) coverage of Bitcoin.
Last week they brought Barry Silbert, the Cryptocentric conglomerate man Digital Currency Group (DCG), to talk about the current state of the cryptocurrency business and its future potential.
Bitcoin Cash Hard Fork was a "Disservice" sector
Discussing a hot topic in the industry, Silbert, who owns / manages holdings in major startups in the industry, noted that the Bitcoin Cash debacle, which has not yet reached its final head, is a distraction for investors.
Elaborating on this point, clearly indicating that he is not a big fan of the fracas, but remains a supporter of Bitcoin, the head of the DCG noted:
The fork is a distraction. The industry has proved to be a real disservice, but let me give you the other side of the question – if Bitcoin emerges as the winner, it will have been tested in battle, as it has been challenged by competitive cryptocurrencies and internal conflicts of development.
Silbert: Death Of ICOs, Ethereum (ETH) Sell-Off, and Crashing Stocks announced The Crash
Bringing the conversation back to the taste of the month of this budding industry – the dismal conditions of the market – Silbert did his best to understand why Bitcoin, together with his brothers altcoin, suffered a staggering sale that caught investors with their pants lowered , as it were.
He first explained that the major cryptor investors are funds / groups with asymmetric risk appetite. Silbert added that these funds often hold positions in high-risk, often tumultuous, technology stocks associated with cryptocurrency stakes. Therefore, seeing the lines that can be drawn between the recent sales of shares and cryptocurrencies, it is clear that the macro-finance market has prompted Bitcoin investors.
The head of DCG, one of the leading entrepreneurs in the cryptography sector, has therefore drawn attention to the ICO market, which was recently beaten and beaten by a repression by the SEC. Bearing in mind that ICOs mainly catalyze the upward trend in 2017, the fact that "the ICO market is completely unrelated" was evidently a downward catalyst for cryptographic assets.
Later on this factor, he explained that when the tokens financed by the ICO collapsed, startups tried to liquidate their war chests, which were mainly full of Ether to stay afloat financially,
Last but not least, he noted that cryptocurrency funds are finally seeing their first redemptions, exerting a further sales pressure on the cryptocurrency market, presumably through Bitcoin sales orders.
Title Image courtesy of Marco Verch on Flickr
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