On November 2, CNBC interviewed Tezos blockchain co-founder Kathleen Breitman at the Web Summit conference in Lisbon, Portugal. The cryptocurrency industry expert spoke about the bear market. She expressed her opinion of her that we are nearing the end of the bearish trend in the cryptocurrency market. You also talked about the responsibility of venture capitalists in continuing the cryptocurrency winter.
The downward trend of the market will continue even more!
According to CNBC, during her interview, the co-founder of Tezos (XTZ) declared that the cryptocurrency winter will continue and get worse. Kathleen Breitman indicated that venture capitalists helped the accentuation of the fall in prices in the cryptocurrency market. In your opinion, “Easy moneythat these companies invested to make a profit didn’t help the cryptocurrency industry. There is also the action of interest rates which have been weak. For Breitman, these two factors have superficially raised the valuations of several cryptocurrency companies.
The co-founder of the Tezos blockchain has precisely declared : “There was a lot of easy money going into the system and I think they were artificially fueling a number of different things, mainly the valuations of these companies“He suggested that rising interest rates highlighted the weaknesses of these companies.
Kathleen Breitman donated the example of the leading NFT OpenSea marketplace. The volume of trading on the platform, in fact, fell to 349 million dollars in September 2022, while it was 2.9 billion dollars in September 2021.
Useful cryptocurrencies will do well
According to economists, the Fed will stop its policy of raising US interest rates next year. Some analysts believe this measure will allow for a revival of the cryptocurrency markets. But, for Kathleen Breitman, it won’t be that simple.
Co-founder of the Tezos blockchain believes there will always be a jolt in cryptocurrency valuations. She added: “I think what you will find is that useful things will thrive“.
For the co-founder of blockchain Tezos, the winter of cryptocurrencies is not over as investors hope. Kathleen Breitman expects another phase of price collapse in the market. She believes that only the small minority of cryptocurrencies that are truly useful to consumers will be successful.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.