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In the financial world, perhaps no topic is more polarizing than cryptocurrencies.
For some, the concept of blockchain is a waste of time and serves no purpose other than building a worthless cryptocurrency that traders can speculate on. Yet more and more money, resources, and intelligent minds are pouring into the field.
We interviewed Granit Mustafa, CEO of Crypto Academy, to hear his thoughts on the ongoing bear market, the long-term future of cryptocurrencies, the polarizing nature, and more.
Coin Journal (CJ): Are those new to cryptocurrencies sometimes familiar with the complexity and technical knowledge required to properly understand blockchains?
Granite Mustafa (GM): absolutely. Many corporate leaders are dedicated to running their businesses and rely on experts for industry-specific technical knowledge, but a deep understanding of an unpredictable industry is what makes potential traders, investors, appears to be an important factor threatening homeowners and entrepreneurs.
It’s scary when institutions and individual participants try to achieve anything in this industry. On the other hand, there are a great many people who want to be part of a rapidly evolving new industry and jump straight into it without having all the information they need.
That said, while the technology and technologies themselves are complex, the concepts behind blockchain and cryptocurrencies are very simple, and I think that’s what drives people to participate anyway.
In the best-case scenario, engagement with the industry itself provides practical knowledge of the inner workings of blockchain and the dynamics within the industry. However, in the worst-case scenario, haste can harm stakeholders if diligence is lacking on the part of the interested parties.
CJ: Many cryptocurrencies are still polarizing, with some saying there are too many projects to grab money and others saying they will revolutionize the economy as we know it. Why do you think predictions exist?
GM: As in any industry, some people fully believe in the novelty and potential applications of technology and emerging industries, while others oppose it out of fear of the unknown.
I know from the financial markets that rag-pulls and Ponzi schemes have always existed, that there have been multiple devastating hacks since the advent of this digital age, and that there have been many other criminal activities in every industry. We know that all revolutionary inventions and innovations, in this case disruptive technology, are double-edged swords.
Others, on the contrary, see the glass as half-filled and fully believe in the potential of technology not only to make people’s lives easier, but also to fight crime, an incessantly pointed out by those who disbelieve.
The wide range of these projections stems from the fact that the technology has a wide range of applications, and for better or worse, along with the benefits of this pervasiveness comes some drawbacks that sooner or later need to be addressed. increase.
CJ: Do you think the bear market we’re seeing will force some new entrants out of the industry for good?
GM: absolutely. We like to think of the bear market as a driving force for aggressive participants. Bull and bear markets represent fundamental cycles in the market and are not new. This repeating cycle has existed since the market began operating and, frankly, will never go away.
The fear in the market at the moment is very acute, but I am afraid that those who believe in making the right investment decisions during this critical time, and who can’t handle it and turn their attention to other things and raise money. For those who choose, it is a testing ground.
It is not surprising that the unhealthy and unnatural growth of the market constitutes an equally sudden and severe subsequent crash. Markets are new, volatile and full of uncertainty, but the underlying behaviors and concepts still apply, even though the uncertainty is high.
Take MicroStrategy for example. CEO Michael Thaler, one of the top institutional investors holding bitcoin (BTC), said despite all expectations, the only way to liquidate MicroStrategy’s holdings of bitcoin (BTC) is through Bitcoin ( BTC) falls to $3,000 and instead of deciding to sell, put other assets as collateral. This is an example of an industry holder who is unafraid of the passing cycle.
CJ: Your website states that you believe cryptocurrencies are the future of finance. What role do you think Bitcoin will play in this future?
GM: My team and I fully support the claim that blockchain and cryptocurrencies will arguably redefine digital finance.
Contrary to popular belief, regulation is crucial in promoting and accelerating global adoption of cryptocurrencies, including Bitcoin (BTC). With growing adoption, Bitcoin (BTC) has become a suitable form of digital currency as well as a secure investment and investment as institutional adoption grows and global payments are facilitated through leading cryptocurrencies. Demonstrate its role as a store of value.
Bitcoin (BTC) has taken an important stance in the market due to its limited supply. Bitcoin (BTC) is now ripe for grabs due to the liquidation caused by the bear market. Now is the time to buy. Years from now, just as many people will look back on the days when Bitcoin (BTC) traded at $20, he will look back on the days when Bitcoin (BTC) traded at $20,000.
CJ: Were you surprised by the growth of the industry after that? Crypto Academy Released in 2016?
GM: The industry has grown, which is nice, but not surprising. I’ve been in the industry for a long time and see a wide range of potential applications. We are pleased to see that the rest of the world has caught up with the industry’s followers.
On the contrary, we expected more growth and a better regulatory environment to encourage adoption of blockchain technology and cryptocurrencies, so we are a little disappointed in that regard.
However, we hope that Binance and its CEO Changpeng Zhao (CZ), as a major adoption accelerator, will encourage and motivate governments and financial institutions around the world to take the courage to participate.
Coin Journal (CJ): We have many price forecasts posted on our website. What are these achievements like, and how do you come up with such predictions?
Granite Mustafa (GM): Price predictions are based on overall market movements, key indicators, sentiment such as the Fear and Greed Index, cryptocurrency roadmaps, market acceptance, and expert opinion to provide the most accurate forecast of prices. Analyze and present movements.
