Bitcoin price: ‘Growing pains!’ Bitcoin crash would be ‘HEALTHY’ as cryptocurrency MATURES
BITCOIN is just experiencing “growing pains” as the cryptocurrency market matures, the CEO of a digital currency brokerage has said, dismissing fears that the bitcoin bubble has burst.
BitcoinBro CEO: Bitcoin crash down to 'growing pains'
Bitcoin has had a rocky month with some speculating that it was the market crashing, but it’s just the cryptocurrency maturing, according to Oliver von Landsberg-Sadie, the founder of cryptocurrency brokerage BitcoinBro.
Speaking to Bloomberg, he said: “I think we’re seeing growing pains.
“You referred to regulatory setbacks but I think these are regulatory steps forward.
“South Korea’s stance on making sure that the exchanges know who they’re dealing with is a very positive step.
Bitcoin's price crash is just "growing pains" according to Mr von Landsberg-Sadie
We’re seeing growing pains
“But it did have a hit on bitcoin.”
Mr von Landsberg-Sadie added that regulation and the recent correction in bitcoin’s price was a sign the market was “growing up”.
He said: “I think the regulatory environment is one of few factors contributing to this correction, which I see as a very healthy correction.
“It’s a sign that the markets growing up and it’s recognising that cryptocurrencies are not a tool for money laundering or illicit use.
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“I think it’s a step in the right direction.
“I’m still very bullish the longterm view of cryptocurrencies in general.
“I think they’re the right kind of change we need to the money system but it needs to be done right.”
Bitcoin fell 8.78 percent to $9,273.82 at 14:16 in London, according to CoinDesk.com