Saifedean Ammous believes in the great return of Bitcoin
Saifedean Ammous said that today's damage to Bitcoin will eventually turn into a "great comeback". He spoke about this in an interview with Kitco News, talking about the attempts of the Chinese authorities to “destroy” the main cryptocurrency on the market.
Ammous has repeatedly spoken out on the topic of Bitcoin and cryptocurrencies, in particular, and also wrote the book "Bitcoin Standard", in which he clearly outlined what the main representative of the new generation of assets is.
When talking about the measures of the Chinese regulators in an interview, Ammous said that Bitcoin has the unique property of "bouncing back". He also stressed that in the long term he is optimistic, albeit given the critical "sell-off of Bitcoin", which has become a kind of "seasonal flu" for the industry.
In an attempt to explain the “seasonality” of the fall in the Bitcoin rate, the author recalled such cases as the closure of the Silk Road trading platform and the ban on cryptocurrencies in China in 2017, when the crypto asset also “got sick”. According to him, then many similarly repeated about the "end of Bitcoin", as now, but in the end he returned with renewed vigor. This time, according to Ammous, will not be an exception, giving the asset every chance of a “big return”.
The only thing that really worries the author is the fact that Bitcoin is still only a tiny part of the global financial system. He expressed the hope that every year the adoption of the main cryptocurrency will grow and due to this it will be able to get the status of "legal" in the largest countries of the world. Even in spite of, to some extent, the crushing consequences of China's total rejection of it.