Within the financial sectors, there cannot be a more polarizing topic than cryptocurrency.
For some, the concept of blockchain is a total waste of time, suitable for none other than the creation of worthless cryptocurrencies that traders can speculate on. However, the flip side is that we currently find ourselves in a bear market, despite the increasing amount of money, resources and intelligent minds.
We interviewed Crypto Academy CEO Granit Mustafa to get his thoughts on the continuing bear market, the long-term future of crypto, its polarizing nature, and more.
CoinJournal (CJ): Do you find that people new to crypto are sometimes informed by the complexity and technical knowledge required to properly understand blockchain?
Granite Mustafa (GM): Definitely. Even though many leaders of companies have the brains to run the business and rely on experts for the technical knowledge that is specific to the industry, a deep understanding of an unpredictable industry appears to be a key factor in scaring off potential traders, investors and entrepreneurs. Is.
It can be frightening for both institutional and individual participants to try and achieve something in this industry. On the other hand, there are plenty of people who want a piece of the new and fast-growing industry to dive head-first into without all the information.
Still, while the technology and the technology itself is nothing short of complicated, the concept behind blockchain and cryptocurrency in the latter is quite simple, which I think is what drives people to participate anyway.
In the best case scenario, the industry engagement itself provides practical knowledge about the inner workings of blockchain and dynamics within the industry. However, in the worst case, haste can be detrimental to the interested party if they lack diligence.
chief Magistrate: Much of the cryptocurrency is still quite polarizing, with some saying there are a lot of money-grabbing projects, and others saying it will revolutionize the economy as we know it. Why do you think there is such a wide range of forecasting outcomes?
GM: Like any other industry, there are some who fully believe in the innovation and potential of technologies or application of emerging industries, and who oppose it because of the fear of the unknown.
We know that there have always been rag-pulls and Ponzi schemes out of the financial markets, we know that there have been many devastating hacks since the emergence of this digital age, and many other criminal activities in every industry. That is to say, every revolutionary invention or innovation, or in this case a disruptive technology, is a double-edged sword.
In contrast, there are those who see the glass as half full and fully believe in the potential of technology, not only to make people’s lives easier, but also to combat the crimes that unbelievers constantly point out. are doing.
The wide range of these expectations stem from the fact that the technology has wide applications, and for better or worse, with this widespread benefit comes some drawbacks that need to be addressed sooner rather than later.
chief Magistrate: Do you think the bear market we are currently witnessing will leave some newcomers following the industry?
GM, Absolutely. I like to think of bear markets as a driving force for challenging participants. Bull and bear markets represent fundamental cycles of markets, and this is nothing new. This repeating cycle has existed since the beginning of the markets’ operations, and is clearly never going away.
Fear is quite important in the market at this point of time, but it is a testing ground for those who make sound investment decisions during this critical time and who cannot handle it and focus their attention and money on something else. Choose.
It would stand to reason that unhealthy and unnatural developments in the markets would constitute a subsequent crash which is sudden and serious. Although the market is new and volatile, and full of uncertainties, basic behaviors and concepts apply, although the uncertainty is high.
Take for example microstrategy. Despite all expectations, CEO Michael Sayer, one of the top institutional investors holding bitcoin (BTC), said that the only way for Microstrategy to liquidate its bitcoin (BTC) holdings would be if bitcoin (BTC) fell to $3,000, and That they will keep other assets as collateral rather than decide to sell. This is an example of holders in the industry who are not intimidated by a passing cycle.
chief Magistrate, You state that you believe cryptocurrency is the future of finance on your website. I’m curious what role do you see for bitcoin in this future?
GM: My team and I stand firmly behind the claim that blockchain and cryptocurrencies will surely redefine digital finance.
Contrary to popular belief, regulations are highly important in facilitating and accelerating global cryptocurrency adoption, including bitcoin (BTC). With increasing adoption, bitcoin (BTC) will prove its role as a safe investment and store of value, as well as becoming a proper digital currency, as well as increasing institutional adoption and leading global payments. Will be facilitated through cryptocurrency.
With the limited supply of Bitcoin (BTC) leading the market and currently due to the liquidation caused by the bear market, Bitcoin (BTC) is ready to pick up. The time to buy is now. A few years from now, many people will look at the time when bitcoin (BTC) was trading at $20,000 just as they look at the time when they could have bitcoin (BTC) for $2.
chief Magistrate: Are you surprised at the development of the industry since then? crypto academy was launched in 2016?
GM, I am happy that the industry has grown, but I am not surprised. I have been in the industry long enough to realize its potential for wide applications. I am glad that the rest of the world has caught up with industry believers.
On the contrary, I expected more development and a better regulatory landscape to facilitate the adoption of blockchain technology and cryptocurrencies, so I am a bit disappointed in that aspect.
However, I do hope that Binance and its CEO Changpeng Zhao (CZ) as a leading accelerator for adoption will inspire and inspire governments and financial institutions around the world to step up and come on board.
CoinJournal (CJ): You post a lot of price forecasts on your website. What is their track record, and how do you make predictions like these?
Granite Mustafa (GM): We base our price forecasts on overall market movement, critical indices and sentiments such as the Fear and Greed Index, the cryptocurrency’s roadmap, market acceptance, and expert opinion to analyze and present the most accurate expected price movement.