Coinbase co-founder says this isn't a market top for crypto

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Coinbase co-founder Fred Ehrsam told CNBC on Wednesday he does not believe the crypto market has reached a top.

"As somebody who's been working in crypto for 10 years, I've heard that statement hundreds, if not thousands, of times," he said Wednesday.

However, Ehrsam said he expects cryptocurrencies will continue to trade with volatility.

 

Coinbase co-founder Fred Ehrsam told CNBC on Wednesday the cryptocurrency market has not yet reached its apex, even if trading in various digital coins remains choppy going forward.

 

Ehrsam's comments on "Closing Bell" came shortly after Coinbase went public through a blockbuster direct listing on the Nasdaq, a major milestone for crypto in its journey toward institutional acceptance.

 

While skeptics remain, Ehrsam said they have continually been proven wrong since he became involved in bitcoin two years after its creation in 2009.

 

"As somebody who's been working in crypto for 10 years, I've heard that statement hundreds, if not thousands, of times," Ehrsam said, when asked by CNBC's Sara Eisen whether the current hype around the crypto market could signal "this is the top."

 

Ehrsam co-founded Coinbase in 2012, when bitcoin was around $6, and still serves on the company's board of directors. Co-founder Brian Armstrong serves as CEO of Coinbase, the largest cryptocurrency exchange in the U.S.

 

"I think it will be volatile from here, but that's just the nature of such a huge technology coming into existence, and I don't think it could happen any other way," said Ehrsam, managing partner at crypto-focused investment firm Paradigm.

 

Bitcoin has been on a tear since last year. As recently as October, bitcoin traded below $11,000 apiece. It hit a record high over $64,000 earlier Wednesday, although it retreated from those levels and was trading around $62,000 around 4:45 p.m.

 

For more info go to
https://www.cnbc.com/2021/04/14/coinbase-co-founder-says-this-isnt-a-market-top-for-crypto.html

 

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[scorpiali 5626]

The coinbase Wallet and exchange is one of the best project in all crypto currency and now they are in the stocks and can be buy and sell with the 300 dollars and more he support the crypto currency all over over the world 

[AboQusai 155]

This is what I read from a large number of experienced cryptocurrency analysts, all of whom were positive in analyzing the cryptocurrency market and that the rise is still continuing and there are new historical peaks.

[Tala999 601]

My dear friend, it is true that today we are witnessing a significant decline in cryptocurrencies, and before it was very high, yet no one can predict its price because it is unstable, and with that, I expect that we are on the verge of a future full of successes.

[Amelia1971 1338]

I have not been with cryptocurrencies for so many years but it is known that if there are large investors who support cryptocurrencies, it is a sign that it is not something that should be taken lightly since they have been studying all of them for a long time. Possible markets like any investment and this is not the exception has its downs and also its ups you just have to be patient and learn from them that they do not collapse at the first change follow the example and we will see how luck goes for everyone and for me too.