RATE Group | Bitcoin Will Be the Amazon of Cryptocurrency, Says VC Advisor
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Bitcoin Will Be the Amazon of Cryptocurrency, Says VC Advisor

22 Nov Bitcoin Will Be the Amazon of Cryptocurrency, Says VC Advisor

Posted at 20:45h in Cryptocurrency News by

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If the present cryptocurrency price drop is akin to the dot-com crash of 2000, then Lou Kerner believes Bitcoin will be the Amazon of the cryptocurrency era. The top-ranked virtual currency is currently down 77 percent from its mid-December all-time high.

‘Hodlers’ Gain Rewards Every Couple of Years

Speaking recently to CNBC, the CryptoOracle partner said that long-term Bitcoin holders reaped massive gains every couple of years. Kerner’s comments come at a time when BTC and other cryptocurrency prices have taken a significant nosedive.

Dot Com Bubble

Kerner drew parallels between the current state of the virtual currency market and the situation with tech stocks during the internet bubble and subsequent dot-com crash. According to Kerner, Amazon, one of the largest global conglomerates today saw its share price plummet massively after the crash.

Commenting on the volatile nature of the market, Kerner said:

There was a day in 2013 when we were down 70 percent overnight. Nobody likes being…

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