While the value of the cryptocurrency economy has plummeted over the past two weeks, managing partner at Multicoin Capital, Kyle Samani, recently shared his views on why he believes the “next bear market will not be the same as the previous.” In fact, Samani points out, there may not even be a “bear market at all.”
Multicoin Capital Executive Claims “The Next Bear Market Will Not Be Like The Last”
One thing is for sure, crypto investors are afraid of a full-blown bear market like the past two winters that have worried cryptocurrency prices by more than 80% in value after each peak. Currently, between 25%-30% of value has been lost since the cryptocurrency price hike on November 10, and bearish sentiment is putting pressure on the crypto economy as a whole. However, despite a 30% drop in market values, Multicoin Capital Managing Partner Kyle Samani Share his thoughts In a recent Twitter thread posted two days ago.
“Why will the next bear market not be the same as the last?” Samani said. “And in fact, we may not have a bear market at all. Or we may have half a bear market, depending on your point of view.” sammani says so Generally speaking, there are two types of people in crypto: “cryptocurrency” and “crypto technology”. More recently, or since 2017, Samani claims that the crypto-tech group has dominated. “Since 2017, crypto-tech has come to dominate the zeitgeist,” Samani stressed.
furniture note That these days, crypto technology is clearly dominating, he says, “There are still a lot of people who only think of BTC as an inflation hedge, but they are an increasingly small group.” [percentage] From press, social media, conference talks, etc.” CEO of Multicoin Capital added:
People who work in the crypto-money space primarily think about interest rates, the politicization of central banks, etc. Inevitably, politicians/central banks will do bad things to Bitcoin as a way to hedge against inflation. Whether that’s banning it (or trying to), or just raising prices, or whatever. There is a natural ebb and flow in the actions of these institutions, and BTC-USD will naturally respond to them.
Samani Insists Huge Amount of Capital ‘Never Will Believe in Bitcoin’ – ‘Tech Money Don’t Care About Macros’
Samani further stated that tech people don’t care about these kinds of things and that they “just want to build cool new things”. If bitcoin drops 50% due to government enforcement, Samani claims that tech experts will continue to build and that investors will “invest in crypto-tech.”
“It is possible that cryptocurrencies are still too early to truly integrate into the mainstream,” Samani said. pointed on Sunday. “But I think at this point, that doesn’t matter anymore. The train left the station: Tech builders and investors all secured crypto-tech as a meaningful possibility to reshape commerce, finance, and the fabric of society at large. They were comfortable meeting about that and holding them for years,” said the CEO of Multicoin Capital. .
Samani insists that there is a huge amount of capital that will “never believe in BTC because they do not believe in owning an unproductive asset.” The crypto advocate believes that in the event of a bear market, he expects Solana (SOL) and Ethereum (ETH) to significantly outperform Bitcoin (BTC). “Tech money doesn’t care about the macro,” he called me opened. “They just want to be tall [on] The things they think will change the world.”
Samani predicts ‘Once Bitcoin is flipped, the Bitcoin game is very much over’
As “everyone knows that software is eating up the world,” Samani expects SOL and ETH to be in high demand. He noted that everyone wants to be part of the “next big tech wave, and crypto is reliably one of those waves.” Managing Partner at Multicoin Capital added that he believes BTC will flip over the medium term. He believes that a tidal wave of tech money is entering the crypto economy, which will crowd out the entire pool of people’s money. Al-Samani added:
Once BTC is flipped, the BTC game is pretty much over. A big part of the value support for BTC is that it is the largest and most liquid. Once those stop being honest, he has less to offer. As people realize this is becoming true, a lot of the money in BTC will be recycled into SOL, ETH and other more productive names.
After these comments, Al-Samani predicted his theory adding that the next bear market will not look like the last and stressed that “the breakup is real.” The CEO of Multicoin Capital concluded that “when Bitcoin flips, things get really interesting.”
What do you think of the views of Kyle Samani, CEO of Multicoin Capital on the bear market and some cryptocurrencies outperforming Bitcoin? Tell us what you think about it in the comments section below.
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