|Nov 25, 2018 08:51 PM||By: Jinia Shawdagor | 1311 Views|
Leon Liu, chairman of Shenzhen-based cryptocurrency data startup BitKan, sat feathers with BitsOnline to explain his thoughts on what led to the market crash.
Liu revealed that the BCH hard fork is only one of the reasons for the downturn, but also reported it as “the fuse,” stating that “there are many other factors to take into evidence beyond what is seen on the surface.”
He then stated that ICOs triggered this round of the bull market at the end of last year. A joining of being “unwelcomed by governments” and their high abortion rate means that “the market is currently in the method of popping the ICO bubble.”
Regarding his expectations on the length of this bear market, Liu prophesies we’ll see it lasting at least a year. Still, he says if there are any “killer applications” like dApps or ICOs, “this bear market will be eliminated, and then it will gradually improve, and then it will enter a stage of benign development.”