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Although the value of the crypto economy has fallen sharply in the past two weeks, Kyle Samani, the managing partner of Multicoin Capital, recently shared his views on why he believes that “the next bear market will not be like the last one.” In fact, Samani commented that there may not even be a “bear market” at all.
Multicoin Capital executives claim that “the next bear market will not be like the previous one”
One thing is certain, cryptocurrency investors are afraid of a full-scale bear market like the past two crypto winters. After each peak, the price of cryptocurrency will fall by more than 80%. At present, 25% to 30% of the value has been lost since the high of the crypto price on November 10, and bearish sentiment has put pressure on the entire crypto economy. However, despite a 30% drop in market value, Kyle Samani, managing partner of Multicoin Capital Shared his thoughts In a recent Twitter post published two days ago.
“Why won’t the next bear market be like the last time,” Samani said. “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.” Samani Further Broadly speaking, there are two types of people in cryptocurrency: “currency cryptocurrency” and “technical cryptocurrency”. Recently, or since 2017, Samani claimed that the technology encryption group has taken a dominant position. “Since 2017, technological encryption has begun to dominate the spirit of the times,” Samani emphasized.
furniture Comment Now, it’s clear that encryption is the dominant technology, and he said, “There are still a lot of people who just consider Bitcoin As an inflation hedge, but they represent smaller and smaller scales [percentage] Media, social media, conference speeches, etc. ”Multicoin Capital Executive Officer Add to:
Currency cryptographers mainly consider interest rates and the politicization of the central bank. The technicians are concerned about construction.Inevitably, politicians/CBs will do something against them Bitcoin As an inflation hedge. Whether it’s banning (or trying), or just raising interest rates, or whatever. The actions of these institutions have a natural ebb and flow, and BTC-USD will naturally respond.
Samani insists on owning a large amount of capital that “will never believe in Bitcoin”-“Technology funds don’t care about the macro”
Samani further stated that technologists don’t care about these types of things. “They just want to build cool new things.” If Bitcoin falls by 50% due to government enforcement, Samani claims that technologists will continue to build and investors will “invest Encrypted by technology”.
“Cryptocurrency may be years before it actually enters the mainstream,” Samani famous on Sunday. “But I think at this point, it is no longer important. The train has left the station: all technology builders and investors believe that technology encryption has the potential to reshape business, finance, and the entire social structure. They are happy to hold a meeting on this and insist on it. For many years,” Multicoin Capital executives said.
Samani insists that there is a lot of capital there “never believe it Bitcoin Because they don’t believe in owning non-productive assets. “The crypto advocate believes that if there is a bear market, he expects solana (SOL) and Ethereum (Ethereum) Is better than Bitcoin (Bitcoin) Significantly. “Technology funding doesn’t care about the macro,” Samani think“They just want to grow [on] What they think will change the world. “
Samani predicts “Once Bitcoin is flipped, the Bitcoin game is over”
Because “everyone knows that software is eating the world,” Samani predicts that SOL and Ethereum Demand will rise. He emphasized that everyone wants to be “part of the next big technology wave, and encryption is undoubtedly one of them.” The managing partner of Multicoin Capital further added that he believes “Bitcoin Will be reversed in the mid-term. He believes that as the wave of technological funds floods into the crypto economy, it will crowd out the macro currency group. Samani added:
once Bitcoin Was flipped, the game is almost over Bitcoin. A large part of the value pillar Bitcoin It is the largest and most liquid. Once these are no longer true, it provides even less. As people realize that this is becoming a reality, Bitcoin Will rotate out and into SOL and Ethereum And other more productive names.
After these statements, Samani speculated on his theory and added that the next bear market will not be like the last one, and emphasized that “decoupling is real.” “When Bitcoin Being flipped, things become *really* interesting,” the Multicoin Capital executive concluded.
What do you think of Kyle Samani, CEO of Multicoin Capital, on the bear market and certain cryptocurrencies’ performance better than Bitcoin? Please tell us your thoughts on this topic in the comments section below.
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