There is no doubt that the crypto industry hasn’t been doing too hot over recent months.<\/p>\n
Since topping in June, Bitcoin (BTC) has collapsed by over 40%, falling from $14,000 to $7,800, where the cryptocurrency sits as of the time of writing this. This price collapse has been marked by a capitulation in investors and other industry participants, with many throwing in the towel as they believe that Bitcoin’s price qualms are a sign that the future of blockchain and cryptocurrency remains in disarray.<\/p>\n
A former partner at Indus Capital and Goldman Sachs, however, believes that this harrowing sentiment is irrational, quipping that quitting crypto now is ” akin to selling Alibaba and other internet startups in 2000-2003.”<\/p>\n
A partner of The Spartan Group, a blockchain advisory and investment firm, recently released an extensive Twitter thread <\/a>regarding their latest thoughts on the crypto industry.<\/p>\n The thesis of the individual, who goes by “SpartanBlack” on Twitter, is that there is a growing sense of despondency spreading amongst industry members, and is “putting crypto’s long-term growth” trajectory at risk.<\/p>\n 0\/ I used to think that crypto people are crazily optimistic, but lately a sense of despondency seems to be spreading. Even some of the early crypto diehards are sounding the industry\u2019s death knells. This gloomy narrative is wrong and puts crypto\u2019s long term growth at risk.<\/p>\n — Kelvin Koh (@SpartanBlack_1) November 29, 2019<\/a><\/p><\/blockquote>\n\n