Famous investor and Shark Tank star Kevin O'Leary, who hosted America's leading financial programs, talked about the collapse of major crypto companies. O'Leary finds it positive that large crypto companies that opened well above his level are failing.
Stating that this should be considered as the development of the crypto money economy rather than the collapse of some crypto money companies, O'Leary stated that big fish should be caught and said that in fact, the market was cleaned in a way in serious declines. O'Leary made the following statements on the subject.
“Let me tell you how to reach bottoms in any market. It doesn't matter whether you invest in securities, cryptocurrencies or real estate, and you always need to catch a few big fish to see the bottom. This gives you the opportunity to buy from the bottom in long-term investments, and in fact, cryptocurrencies are exactly the same. "I don't always want that to happen, but it gives you a good bottoming opportunity. You always have to start over from somewhere and someone is given as a victim. In the cryptocurrency industry, the new victim has been big companies."
Expressing that these low levels will pass and this situation will actually be overcome, O'Leary underlined that he had seen this movie before. Stating that when someone goes down, others will get smarter, O'Leary reminded that the mainstream acceptance in the crypto money industry has also increased. According to the famous investor, this bottom may be one of the last opportunity bottoms.
According to CoinGecko data, Bitcoin price was hovering around $20.592 at the time of writing, while BTC's 24-hour trading volume was $36.066.390.679. BTC price has increased by 16.2% in the last 24 hours.