The co-founder of Reddit Alexis Ohanian who is also a popular crypto bull, claims that the crypto hype is going away and is creating space for true crypto builders and believers. He spoke for a Yahoo Finance interview that reached our crypto news today.
Ohanian explained that the current state of the crypto market is still in a crypto winter phase.
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He also cited Coinbase CEO Brian Armstrong after he said that the bear market has contributed to eliminating the crypto speculators and that the true believers have stayed and will build a better crypto infrastructure.
Co-founder of Reddit also said:
“Now, it’s still to be seen. But what’s a strong signal to me is still some of the smartest people I know in tech are working on solving these problems. They’re building companies that are built on blockchain. The hype is gone. The fervor is gone. But I think that’s a good thing.”
Ohanian was asked what he believes about the launch of the JPMorgan Chases’ JPMcoin which is a blockchain-based asset aiming to increase settlement efficiency within the operations of the bank itself for which he stressed that that move is just another indication that there is real innovation in the crypto market ongoing and the upcoming release is a good thing.
Alexis Ohanian became a multi-millionaire in 2006 after he sold Reddit with the second co-founder Steve Huffman and he is also a co-founder of a venture capital firm Initialized Capital. Back in July last year, he predicted that Bitcoin and Ethereum will reach up to $20,000 and $1,500.
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