Paul Veradittakit shared his point of view on the current crypto market situation and hinted that the next 1 year will follow the same downfall.
Since December 2021, the Crypto industry faced a huge downfall in the prices because of the usual fear among crypto investors. 2021 was a bull run for the crypto industry and after every bull year, the bear situation comes. However, only this usual panic is not only a part of this situation, among the crypto investors but also many factors are spoiling the growth of the crypto industry, in terms of prices.
Paul Veradittakit, Pantera Capital investment partner, predicted the future of the crypto industry for the near future and claimed that the next 10 to 12 months will follow the current situation, also we have to assume that we are in the initial phase of a bear market.
Paul said that it is a good time for the crypto companies to do development work because a bear situation will not impose any kind of pressure to present something big instantly.
Pantera Capital partner also said that it is a good time for the crypto investors because the current situation is at that level where volatility is also an opportunity.
He suggested crypto proponents & entrepreneurs to the focus on following things:
“Raise capital or operate lean/extend the runway for at least 24 months. Focus on monetization and business model earlier rather than later, creating exit value. Reduce excessive spending; in crypto, you spend less during a bear market on marketing and push more into the next bull market. Review service agreements and either cut or re-negotiate. Larger companies should be active in looking for acquisition targets.”
Recently popular financial investment expert & advisor, Robert Kiyosaki, who is the author of the popular book Rich Dad Poor Dad, shared his prediction on Bitcoin and noted that Bitcoin may touch a minimum in the range of $20k to $9k.
At the time of writing this article, the price of Bitcoin is $29,487 and this price is 1% high over the last 24 hours’ trade price. Unfortunately, this price is 27.4% down over the last 30 days’ trade price.
At present, not all the crypto proponents agreed that crypto is in bear situation. Recently Nischal Shetty, founder of Indian Crypto Exchange Wazirx, claimed that we are not in a bear market.