Multicoin Capital Exec Says There ‘May Not Be a Crypto Bear Market at All,’ Claims ‘Bitcoin Will Get Flipped’ – News Bitcoin News

While the crypto economy has tumbled in value during the last two weeks, the managing partner at Multicoin Capital, Kyle Samani, recently shared his views on why he thinks the “next bear market will not be like the last one.” In fact, Samani remarks that there may not even be “a bear market at all.”

Multicoin Capital Executive Claims the ‘Next Bear Market Will Not Be Like the Last One’

It is clear that cryptocurrency investors fear a complete bear market, just like past crypto winters which reduced digital currency values by more than 80% each time after tops. The crypto market has been under pressure since November 10th, when 25%-30% of its value was lost. However, despite the 30% drawdown in market values, Multicoin Capital’s managing partner Kyle Samani shared his thoughtsA tweet that I posted two days back.

“Why the next bear market will not be like the last one,” Samani said. “And in fact, we may not have a bear market at all. Or we may have half a bear market, depending on your perspective.” Samani further says that broadly speaking, there are two types of people in crypto: “money crypto” and “tech crypto.” In recent times, or since 2017, Samani claims that the tech crypto group has dominated. “Since 2017, tech crypto has come to dominate the zeitgeist,” Samani stressed.

Samani remarked that these days, it is clearly evident that tech crypto dominates and he says “there are still lots of people who just think about BTC as an inflation hedge, but they represent an increasingly small [percentage] of press, social media, conference speaking, etc.” The Multicoin Capital executive added:

People who are money crypto think first about central bank politicization and interest rates. The tech people love building. It is inevitable that politicians/CBs will make bad decisions for Bitcoin as an inflation hedge. Whether that’s banning it (or trying to), or just raising rates, or whatever. BTC-USD is naturally sensitive to this natural flow and ebb.

Samani Insists a Vast Amount of Capital out There That ‘Will Never Believe in Bitcoin’ — ‘Tech Money Doesn’t Care About Macro’

Samani further stated that tech people don’t care about those types of things and that “they just want to build cool new things.” If bitcoin dropped by 50% because of government enforcements, Samani claims tech people will continue to build and investors will “invest in tech crypto.”

“It’s possible that crypto is still a few years too early from truly breaking into the mainstream,” Samani notedSunday. “But I think at this point, that no longer matters. All of the investors and tech builders have endorsed tech crypto for its significant probability of changing commerce and finance and the overall fabric of society. And they are comfortable meeting on that and holding for years,” the Multicoin Capital executive said.

Samani insists that there is a vast amount of capital out there that “will never believe in BTC because they don’t believe in owning non-productive assets.” The crypto advocate believes that if there is a bear market, he expects solana (SOL) and ethereum (ETH) to outperform bitcoin (BTC) significantly. “The tech money doesn’t care about macro,” Samani opined. “They just want to be long [on] the stuff that they think is going to change the world.”

Samani Predicts ‘Once Bitcoin Is Flipped, It’s Pretty Much Game Over for Bitcoin’

Because “everyone knows that software is eating the world,” Samani predicts SOL and ETH demand will rise. He highlighted that everyone wants to be a part of the “next big tech wave, and crypto is credibly one of those waves.” The managing partner at Multicoin Capital further added that he believes “BTC will get flipped in the medium term.” He thinks as a tidal wave of tech money comes into the crypto economy, that it will crowd out the macro money group of people. Samani said:

Once BTC is flipped, it’s pretty much game over for BTC. A large part of the value prop of BTC is that it’s the largest and most liquid. These are false and it will soon have much less. As more people see this, a lot will move out of BTC and to SOL or ETH.

Following those statements, Samani surmised his theory by adding that the next bear market will not look like the last and stressed that the “decoupling is real.” “When BTC gets flipped, things get *really* interesting,” the Multicoin Capital executive concluded.

This story contains tags
Bitcoin, Bitcoin (BTC), Bitcoin building, crypto assets. Cryptocurrencies. Digital Assets. Ethereum, Ethereum (ETH), flip, Kyle Samani. Opinion, productive. Software eating the world. SOL, Solana.

What do you think about the Multicoin Capital executive Kyle Samani’s opinions about the bear market and certain cryptos outperforming bitcoin? Please comment below to let us know your views on the subject.

Jamie Redman

Jamie Redman is the News Lead for News. He also lives in Florida and works as a journalist covering financial technology. Redman joined the cryptocurrency community in 2011 and has been an active participant ever since. Redman is passionate about Bitcoin and open-source codes. Redman is a prolific writer for News, with over 4,900 articles about disruptive protocols.

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