- FTX US President Brett Harrison has recently expressed his views about the current downtrends in the cryptocurrency industry.
- He signified that the current crypto winter is quite similar to the ones that hit years ago, even the one in 2018.
- Seemingly, he is quite optimistic that the capital venture entities and their investments would be the ones to revive the crypto space.
The President of the popular crypto exchange FTX US, Brett Harrison, has agreed that the present situation in the overall crypto space is not really up to the mark. Though he believes that this bear market has similarities to the previous ones, and the industry will overcome its issues in the future.
The cryptocurrency market witnessed considerable downtrends due to various microeconomic factors. The crowned crypto asset saw its price drop to $18,000 only last week, which was the lowest in around eighteen months.
Harrison Not So Worried About The Bearish Trends
Harrison did not really sound too worried regarding this situation. He expressed his thoughts in a recent interview with CNBC, highlighting that folks have short-term memory as the bear markets have happened before also, and BTC has always been prevalent anyway.
Furthermore, he signified that the current crypto winter is quite similar to the ones that hit years ago, even the one in 2018. He thinks this time; it would be the venture capital firms to drive forward the new bull market.
He highlighted that they still have an enormous amount of venture capital flowing into the digital assets that they think would boost the ecosystem as these entities come out with new services and products, and that would bring the crypto world back in the end.
He highlighted the nature of Bitcoin and that it is not controlled by the central banks and governments. And Bitcoin has emerged as a store of value that can be securely and immediately transferred worldwide.
Harrison highlighted only last month that the crypto platform would seek approval from the Commodity Futures Trading Commission (CFTC) for offering Bitcoin (BTC) and Ethereum (ETH) futures options to US clients. He thinks that this initiative can enhance the company’s potential profits.
Source: https://www.thecoinrepublic.com/2022/06/25/ftx-us-president-thinks-the-crypto-winter-is-similar-to-the-ones-that-hit-the-industry-earlier/