The CEO of Coinbase: the cryptocurrency market is very similar to the dot-com bubble
Source:In his recent interview with Brian Armstrong shares his view on recent events in the stock market. In his opinion, the astronomical growth and a dramatic correction Bitcoin is very similar to the behavior of companies during the dotcom bubble. About it writes .
theWhen will the Bitcoin bubble burst
Armstrong said on «mad journey» that was his company in the six years of its existence. He noted that now Coinbase has been working for more than 1000 experts in various fields.
Every year there is a new skill that needed to study. With experience came understanding of the correct management, we now have six or seven offices around the world. I still discover some new things in the process.
The question about price movement of the main cryptocurrency Armstrong led his theory. In his opinion, went through five bubbles when its price shoots up, and then corrected by at least 60 percent. With each new cycle of coin finds a new support level which serves as a launching pad for new bullrun.
In 2012, Coinbase has registered only 500 new users each day. A few years later their number increased to 50 000 due to the new bubbles. Armstrong compared it to the dot-com bubble of 2001. However, other analysts of this view.
The Internet went through a huge bubble, then the expectations of many investors simply do not agree with reality. Yes, the stock price fell sharply, but many of the leading companies of the world started to grow just after the bubble. I think cryptocurrencies will be the same.
Coinbase CEO predicts endorsement of the cryptocurrency ETF in the future. However, this may not happen immediately. The financial regulator can't overnight completely change their attitude to the crypt.
The SEC is looking for in the stock market real projects that have a benefit. Now there is too many useless tokens.
Armstrong said that working with the SEC quite easily. He also said that the next task of the Commission is to establish a universal standard of what should be a crypt.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Bitcoin stuck at the level of $ 6500 — will continue the growth? The opinion of the Russian expert
recovered after a recent subsidence of up to 6 thousand dollars. The coin was fixed in the interval from 6300 to 6600 dollars and hardly leaves him with the environment. Some foreign experts see this as a sign . Time to find out ...
Nvidia reported a significant reduction in revenue. Blame the miners
last week analysts by FactSet estimate that profit Nvidia to grow even despite the "disadvantage" of home mining and the decline of interest of participants of the stock market to the products of the company. it Seems that somethi...
Americans banned from doing business and fined. The reason — the organization is fraudulent. ICO
In August, police raided the offices of the South Korean company Shinil Group on charges of fraud. Earlier the firm announced it had found the sunken Russian cruiser "Dmitry Donskoy" of gold on Board worth billions of dollars. Aft...
Casinos back in winnings: the fall of Bitcoin would not reduce the profitability of mining
Bear market affects not only captainvalor, but also to the miners. Many experts believe current price levels the final stage of correction of Bitcoin as if it will fall even lower, then its production will supposedly be unprofitab...
How to make money on mining: the script Coinhive brings users 250 thousand dollars a month
In early July, a Japanese, whose name was not disclosed, for the first time in the history of real time for the use of the script Coinhive for covert mining Monero. The court sentenced a man to a year in prison. This case is clear...
Tyler Winklevoss: wall Street takes time for adoption of cryptocurrency
In late July, the Commission on securities and exchange Commission (SEC) proposed by the Winklevoss brothers to launch open-end investment funds () on the Gemini exchange. The event has shaken the market, however, the cryptocurren...
Ethereum Classic rose by 18 percent. What happened?
the Latest drop of the stock market did not affect the coin. Ethereum Classic rose almost 18 percent in recent days. The main reason for growth was the message from Coinbase, the exchange will begin trading bitcoin 17 August. Abou...
Brian Kelly: bullish on Bitcoin will start very soon
In recent days the stock market has played a bit position. fixed above 6300 dollars, and most of the altcoins have risen at least 5 percent. Host of the show Fast Money on CNBC Brian Kelly figured out the causes of the incident. A...
The long-awaited finale: when will the Bitcoin correction?
it Seems not going to give up. The main cryptocurrency hard bounces from $ 6,000 and does not want to fall below. Is this a sign of the gradual weakening of the bears? Tried to figure it out . the it's Time to invest in Bitcoin In...
Algorithm Proof of Weight. What is it and what are the benefits?
About the algorithms on the basis of which operate blackany coins, everyone has heard of the Hodler. For example, Bitcoin works on a Proof of Work (PoW), and will soon go to proof of share ownership or Proof of Stake (PoS). There ...
New bullrun: how and under what circumstances, Bitcoin will rise to $ 50,000
price Forecasts cryptocurrency is a favorite topic for speculation among all market participants. With increasing pressure from the bears, many believe that the prediction BitMEX CEO Arthur Hayes may well be carried out at the app...
last week, analysts at Trend Micro, about the growing number of proposals for the sale of software for hacking of cryptocurrency ATMs. This software will cost 25 thousand dollars. Hack a smartphone sometimes more expensive than t...
The CEO of Pantera Capital, Bitcoin rat poison. Only rats here are banks
At the conference, the company Dan Morehead said that cryptocurrencies are an advanced form of money. The expert considers the development of the blockchain the biggest breakthrough of the current generation. About it writes . Rec...
How many scamera earned the crypt for four months. Answers "Kaspersky Lab"
the Number of viruses for covert mining in the past year and a half times in comparison with the year 2016, stated in the March report of "Kaspersky Lab". The number of such cases increased from 1.9 million to 2.7 million. Now an...
Xapo CEO: most of the altcoins die out in the long run
the Head of Xapo Ted Rogers predicts «mass extinction» of the stock market. In his opinion, 90% of altcoins will not sustain the growth of the dominance of Bitcoin. At the moment coins almost every day renew their annual...
Bitcoin fell back to $ 6300. What's next?
According to the data , yesterday the price of Bitcoin has bounced from the support level and dropped to 6300 dollars. At the moment the price of the cryptocurrency has stabilized at 6335 dollars. asked the opinion of Russian expe...
Kim Dotcom: buy crypto if you want to avoid a new economic crisis
the Creator of MegaUpload Kim Dotcom has warned his Twitter followers about the fall of the dollar. According to him, to save themselves from a crisis, you need to buy cryptocurrency and precious metals. About it writes . the When...
How to lose money in the cryptocurrency. An example of life
One of cryptoendoliths posted on Reddit a visual guide on how fastest way to lose your money. The investor took out a loan in the Bank for a six figure sum invested in the cryptocurrency. At the moment it cryptoperthite «lost...
Comments (0)
This article has no comment, be the first!