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BitcoinBTC, ethereum and other major cryptocurrencies have tanked through November as the shock FTX crash sends shockwaves through the crypto marketreigniting an infamous short-seller.
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The bitcoin price has crashed under $17,000 per bitcoin, down more than 70% from last year’s all-time high of almost $70,000. The ethereum price has meanwhile suffered a similar sell-off despite Wall Street giant JPMorgan making a surprise decentralized finance (DeFi) bet.
Now, Brian Armstrong, the chief executive of the largest US bitcoin, ethereum and crypto exchange CoinbaseCOIN , has predicted looming crypto regulation will help the largest crypto companies over smaller rivals scaling the company “undervalued” after its brutal 80% stock price collapse.
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MORE FROM FORBES’Reignited’ GameStop Short-Seller Reveals The Surprise Cryptocurrency It’s Betting Against After FTX Crash Hits Bitcoin And Ethereum PriceBy Billy Bambrough
Coinbase chief executive Brian Armstrong has issued a bullish crypto prediction even after the … [+] FTX-induced bitcoin, ethereum and crypto price crash.
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Armstrong is “just as bullish on crypto as ever,” even after the implosion of major bitcoin, ethereum and crypto exchange FTX this month, he told the Financial Times, adding Coinbase currently looks “undervalued” after its stock has collapsed from its spring of 2021 Nasdaq list price.
“Im so glad that [went public],” Armstrong said. “Im glad that were helping the market kind of understand crypto cycles better … because thats kind of been our history as a company, [that] we want to blaze a trail, legitimize the whole industry. We dont mind being misunderstood or questioned for a few years. Were playing this for the long term.”
Meanwhile, Armstrong expects long-awaited bitcoin and crypto regulation that’s currently being debated by lawmakers in the US and around the world will entrench “the largest companies.”
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MORE FROM FORBESNew Crypto Warning: Bankruptcy Fears Suddenly Spread After FTX Crash Wipes Billions From The Price Of Bitcoin, Ethereum And CryptoBy Billy Bambrough
The bitcoin price has been on a steep downward trend over the last year, crashing under $17,000 per … [+] bitcoin and dragging down the ethereum price and other cryptocurrencies.
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Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMiqQFodHRwczovL3d3dy5mb3JiZXMuY29tL3NpdGVzL2JpbGx5YmFtYnJvdWdoLzIwMjIvMTEvMTkvdW5kZXJ2YWx1ZWQtY29pbmJhc2UtY2VvLXJldmVhbHMtYnVsbGlzaC1jcnlwdG8tcHJlZGljdGlvbi1hZnRlci0yMDAtYmlsbGlvbi1mdHgtYml0Y29pbi1hbmQtZXRoZXJldW0tcHJpY2UtY3Jhc2gv0gGtAWh0dHBzOi8vd3d3LmZvcmJlcy5jb20vc2l0ZXMvYmlsbHliYW1icm91Z2gvMjAyMi8xMS8xOS91bmRlcnZhbHVlZC1jb2luYmFzZS1jZW8tcmV2ZWFscy1idWxsaXNoLWNyeXB0by1wcmVkaWN0aW9uLWFmdGVyLTIwMC1iaWxsaW9uLWZ0eC1iaXRjb2luLWFuZC1ldGhlcmV1bS1wcmljZS1jcmFzaC9hbXAv?oc=5 The mention sources can contact us to remove/changing this article |
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