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If it has come to the value adding utilities cryptocurrencies could survive the market crash, then it’s high time for them to do the same
Almost every other crypto investor regardless of their classes be it small scale, large scale or institutional investors, most of them have become skeptical about the crypto market. It has even come to this where many cryptocurrencies and crypto projects have come to the verge of extinction. About the similar situation, Shark Tank investor and billionaire businessman Mark Cuban has to say something.
Mark Cuban thinks that the ongoing bear market is going to stay here for long and during this time some of the digital assets in the crypto market will collapse eventually. It might not come as a surprise for people who are in the crypto space for a while now as many cryptocurrencies in the crypto market have been criticized for not having real life utilities.
In a recent interview with a global media organization Fortune, Mark Cuban said that a whole bunch of cryptocurrencies that are surviving because of the cheap money, indicating no real value, will eventually go extinct soon. The business tycoon, while citing the example of the traditional stock market, said that in the stock and crypto market, it has been seen that companies having support only of cheap and easy money but no actual values, no such valid business anticipation, such companies are likely to disappear. Quoting Warren Buffet he said when the tides in the sea goes out, then you will be able to see who was swimming without clothes.
Cuban said that despite the rough market conditions, highly innovative cryptocurrency projects and company stocks will potentially record breakthroughs. The business magnate stated that if the rates are going to move upwards then the prices will struggle till it gets prices in. He said that the exceptions in the crypto and stocks will be only those who would have new and game changing applications.
Cuban said that projects with disruptive applications and cutting edge technology that are released amidst the bear market conditions, regardless of stocks or cryptocurrencies or any other business then it will always find its way through the market and will succeed. He said that since then crypto assets tend to go parallel with stocks, they started even struggling together after the US Federal Reserve hiked the interest rate.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
