Blockforce Capital CEO: Crypto Plunge Is Healthy And Bitcoin Is Still A Great Investment
Everybody knows that the bear market was a devastating force unleashed upon the crypto market. Not only the value of Bitcoin (BTC) has dropped a lot, but the value of many altcoins has followed it and went down the drain. With hype and interest in the market now considerably lower than before, not a lot of people are believing in it anymore.
However, the CEO of Blockforce Capital, Eric Ervin, has affirmed that you should, indeed, investment in Bitcoin during a recent interview for Bloomberg TV. Unpopular opinion or a good hint for the future? It’s time to find out.
A Nice Opportunity
During the interview, the host Emily Chang asked Ervin what the drop in the price of Bitcoin represented. Bitcoin is down at least 82% at the time of this report. He affirmed that Bitcoin is a long-term opportunity and that it is not a short-term “cash grab”.
Because of this, what the bear market means is a huge opportunity for the whole who want to buy Bitcoin while it is still cheap and get a stunning return on investment some years down the road. According to him, the investment should be addressed with a 3-year time horizon and he believes that Bitcoin will be better than now in three years.
His belief is that Bitcoin is not good now but there is enough interest so that it can become a good investment instrument in the future. By believing in it now, people will seize a nice opportunity. The investors who “play their cards right” can get a good return on investment, he believes.
Ervin is not alone. Many others have lauded Bitcoin as a great investment just waiting for people to use it. They range from the CEOs of many companies and investment funds that are certain that investing some money in Bitcoin now that the prices are low might be somewhat risky but that, in the end, the risk is not exaggerated and the rewards can be great.
The Crash To Bring “Real People” To The Market
Another controversial point which was talked about in the interview was whether Bitcoin’s crash has drawn people in or away. The CEO believes that some people might be away now, but it will mostly be the “bad actors”.
Sure, Bitcoin has lost most of its price, but it remains over its price at the beginning of 2017, way over that. The “real people”, the ones trying to build something, not only exploit it, are the ones who are still working in the industry now and that has not left. They are the crash’s only survivors because they really believe in the potential.
At the end of the interview, the CEO of Blockforce Capital has affirmed that he does not expect the VanEck ETF (which is the one being reviewed by the U. S. Securities and Exchange now) to succeed, but that some ETF will do it soon.