Given the massive dump the crypto space has faced the past couple of hours, some holders and true believers are ready to go down with the ship. Here are some public statements and opinions of bitcoin from some financial experts and bitcoin lovers over the past 24 hours.
Michael Jackson, ex-COO of Skype and partner at venture fund Mangrove Capital during an interview with the Telegraph said: “The vast majority of long-term holders of bitcoin are still way in the money and have shown no sign of cashing out.
“We see the exit of short-term speculators and we have seen it before. The fundamentals are still in place and there is no reason why the bitcoin ecosystem should not continue to develop.”
Tim Draper, Founding partner at both DFJ and Draper Associates took up to twitter and had this to say “Bitcoin true believers can confidently ride thus volatility out. Global currency demand continues to grow unabated”.
John McAfee twitted this earlier today; “OK Everyone … stop panicking about the across the board dip in cryptocurrencies. It’s Christmas for f-ck sake. The costliest time of the year. People are cashing in to buy presents which no-one wants or ever uses but pretends to be thankful for. After Xmas – big boom”.
Davis Stein, host of “money for the rest of us” had this to say concerning the bubble speculations “Something can only be in a bubble if there is some way to measure it’s overvalued. Bitcoin is not in a bubble because nobody knows what the right price should be, its worth whatever price people are willing to pay”
Robert Reid, Critical care physician and bitcoin lover twitted this earlier “Bitcoin has “crashed” 30% SIX TIMES in 2017. Each “crash” has been followed by an increase of: 76%, 237%, 183%, 165%, 152%. Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 steps back. Every 2 steps back is heralded as the end of bitcoin. Relax”!
Lastly, the president of Belarus, Alexander Lukashenko signed a decree which legalises ICO’s, Mining and Smart contracts making them tax-free for the next 5 years. This makes Belarus the first country to fully legalize cryptocurrencies.
What do you think about these opinions? Do you have similar thoughts or not?
Let us know in the comment section below.