{"id":366955,"date":"2018-12-31T17:00:43","date_gmt":"2018-12-31T17:00:43","guid":{"rendered":"https:\/\/wncen.com\/?p=366955"},"modified":"2019-03-11T20:39:48","modified_gmt":"2019-03-11T20:39:48","slug":"jed-mccaleb-bear-market-crypto","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jed-mccaleb-bear-market-crypto\/","title":{"rendered":"Jed McCaleb: It\u2019s Not a Bear Market, Crypto Is Just Calming Down"},"content":{"rendered":"

Early crypto evangelist and arguably one of the most influential figures in the space, Jed McCaleb, says we\u2019re still not in a bear market despite continued price decline and investor fatigue. <\/span><\/p>\n

In fact, the man who has had a hand in everything from the notorious Mt. Gox<\/span><\/a> cryptocurrency exchange, to Ripple<\/span><\/a> and Stellar<\/span><\/a>, says that the crypto market is just \u201ccalming down,\u201d and is \u201cstill way way up\u201d since its inception.<\/span><\/p>\n

McCaleb: Not a Crypto Bear Market, Price Doesn\u2019t Matter To Us<\/span><\/h2>\n

While speaking on a phone interview with Yahoo! Finance<\/span><\/a>, co-founder and chief technology officer of Stellar, Jed McCaleb, was questioned about his key takeaways from his near decade-long experience in the industry, if Bitcoin and blockchain will ever be adopted by financial institutions, and about the ongoing cryptocurrency bear market.<\/span><\/p>\n

McCaleb seemingly laughed off the mere thought of cryptocurrencies being in a bear market, saying it was \u201cfunny when people say crypto is down.\u201d<\/span><\/p>\n

Related Reading | Crypto Bear Market Led $15 Billion Bitmain to Lay Off Employees<\/span><\/a><\/span><\/strong><\/em><\/p>\n

\n

\u201cIn my view, it\u2019s still way way up. It\u2019s down from the peak, but on the whole, it\u2019s way way up. We don\u2019t focus on the price that much, it doesn\u2019t matter to us too much,\u201d McCaleb added.<\/span><\/p>\n<\/blockquote>\n

He does suggest that higher prices does bring more interest to the space, which provides companies behind projects with the cash flow for continued development. The current bear market has affected many businesses, who have been forced to lay off staff members<\/span><\/a>, close down operations<\/span><\/a> at key locations, or sell off assets<\/span><\/a> to fund ongoing development and staffing needs.<\/span><\/p>\n

McCaleb: Million Dollar Crypto Projects With No Technical Merit Are a \u201cBig Shame\u201d<\/span><\/h2>\n

The Stellar co-founder also provides a counterargument to the idea that more cash flow is a good thing for the space. During last year\u2019s bull market, the hype cycle reached levels of exuberance that blinded investors, causing many to buy into scammy ICOs and fill their portfolios full of projects with little-to-no working product in hopes of enormous returns.<\/span><\/p>\n

McCaleb hopes \u201cthat will start to change\u201d with the market \u201ccalming down.\u201d He also calls million-dollar projects with \u201czero technical merit\u201d a \u201cbig shame.\u201d<\/span><\/p>\n

Related Reading | Jed McCaleb Reveals Stellar, Previously Secret Bitcoin Project<\/span><\/a><\/span><\/em><\/strong><\/p>\n

Even projects that have the most technical merit and value, such as Bitcoin<\/span><\/a>, may never see the adoption the crypto community hopes for, according to McCaleb. McCaleb, who created one of most prominent bitcoin exchanges of its time, Mt. Gox, doesn\u2019t think that banks will ever adopt Bitcoin.<\/span><\/p>\n

\u201cI think it\u2019s true that most financial institutions are not going to use bitcoin,” he said.<\/span><\/p>\n

He does, however, continue to suggest that the Stellar cryptocurrency he co-founded \u201cshould\u201d be used as a \u201cuniversal payment network\u201d due to its strength at facilitating \u201ccross border payments and tokenizing value of any type.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Early crypto evangelist and arguably one of the most influential figures in the space, Jed McCaleb, says we\u2019re still not in a bear market despite continued price decline and investor fatigue. In fact, the man who has had a hand in everything from the notorious Mt. Gox cryptocurrency exchange, to Ripple and Stellar, says that the crypto market is just \u201ccalming down,\u201d and is \u201cstill way way up\u201d since its inception. McCaleb: Not a Crypto Bear Market, Price Doesn\u2019t Matter To Us While speaking on a phone interview with Yahoo! Finance, co-founder and chief technology officer of Stellar, Jed McCaleb, was questioned about his key takeaways from his near decade-long experience in the industry, if Bitcoin and blockchain will ever be adopted by financial institutions, and about the ongoing cryptocurrency bear market. McCaleb seemingly laughed off the mere thought of cryptocurrencies being in a bear market, saying it was \u201cfunny when people say crypto is down.\u201d Related Reading | Crypto Bear Market Led $15 Billion Bitmain to Lay Off Employees \u201cIn my view, it\u2019s still way way up. It\u2019s down from the peak, but on the whole, it\u2019s way way up. We don\u2019t focus on the price that much, it doesn\u2019t matter to us too much,\u201d McCaleb added. He does suggest that higher prices does bring more interest to the space, which provides companies behind projects with the cash flow for continued development. The current bear market has affected many businesses, who have been forced to lay off staff members, close down operations at key locations, or sell off assets to fund ongoing development and staffing needs. McCaleb: Million Dollar Crypto Projects With No Technical Merit Are a \u201cBig Shame\u201d The Stellar co-founder also provides a counterargument to the idea that more cash flow is a good thing for the space. During last year\u2019s bull market, the hype cycle reached levels of exuberance that blinded investors, causing many to buy into scammy ICOs and fill their portfolios full of projects with little-to-no working product in hopes of enormous returns. McCaleb hopes \u201cthat will start to change\u201d with the market \u201ccalming down.\u201d He also calls million-dollar projects with \u201czero technical merit\u201d a \u201cbig shame.\u201d Related Reading | Jed McCaleb Reveals Stellar, Previously Secret Bitcoin Project Even projects that have the most technical merit and value, such as Bitcoin, may never see the adoption the crypto community hopes for, according to McCaleb. McCaleb, who created one of most prominent bitcoin exchanges of its time, Mt. Gox, doesn\u2019t think that banks will ever adopt Bitcoin. \u201cI think it\u2019s true that most financial institutions are not going to use bitcoin,” he said. He does, however, continue to suggest that the Stellar cryptocurrency he co-founded \u201cshould\u201d be used as a \u201cuniversal payment network\u201d due to its strength at facilitating \u201ccross border payments and tokenizing value of any type.\u201d<\/p>\n","protected":false},"author":517,"featured_media":366957,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,16894,16891],"tags":[428,6664,7908,3066,3970],"class_list":["post-366955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ripple","category-stellar-xlm","tag-bitcoin","tag-crypto","tag-jed-mccaleb","tag-mt-gox","tag-stellar"],"acf":[],"yoast_head":"\nCrypto Is Just Calming Down, Not a Bear Market Says Jed McCaleb<\/title>\n<meta name=\"description\" content=\"Early crypto 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Jed McCaleb: It\u2019s Not a Bear Market, Crypto Is Just Calming Down","url":"http:\/\/wncen.com\/news\/jed-mccaleb-bear-market-crypto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/jed-mccaleb-bear-market-crypto\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/12\/crypto-shutterstock_311657396.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/12\/crypto-shutterstock_311657396.jpg?fit=4131%2C2754"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","jed mccaleb","mt. gox","stellar"],"dateCreated":"2018-12-31T17:00:43Z","datePublished":"2018-12-31T17:00:43Z","dateModified":"2019-03-11T20:39:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Jed McCaleb: It\\u2019s Not a Bear Market, Crypto Is Just Calming Down\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/jed-mccaleb-bear-market-crypto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/jed-mccaleb-bear-market-crypto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/crypto-shutterstock_311657396.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/12\\\/crypto-shutterstock_311657396.jpg?fit=4131%2C2754\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"jed mccaleb\",\"mt. gox\",\"stellar\"],\"dateCreated\":\"2018-12-31T17:00:43Z\",\"datePublished\":\"2018-12-31T17:00:43Z\",\"dateModified\":\"2019-03-11T20:39:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/12\/crypto-shutterstock_311657396.jpg?fit=4131%2C2754","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/366955"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=366955"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/366955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/366957"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=366955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=366955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=366955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}