Winklevoss Twins: Crypto Hype at SXSW Offers Investors a Bullish Case for the Markets
Ever since Bitcoin and the entire crypto markets went spiraling downwards in late-2017 and early-2018, investor’s sentiment has grown to be strongly linked to price action, and as such, the sentiment of most neophyte investors that have been burned by the persisting bear market remains in the gutter.
Despite this, the sheer amount of hype and excitement surrounding the nascent markets and technologies at the on-going South by Southwest (SXSW) conference in Austin, Texas, may be a signal that excitement for the markets is still flowing through the veins of investors, regardless of how well various cryptocurrencies are trading.
Winklevoss Twins: Interest in Crypto is at a Tipping Point
Cameron and Tyler Winklevoss – the founders of the popular cryptocurrency exchange Gemini – have sat at the forefront of all noteworthy crypto-related discussions at the SXSW conference, and recently discussed the notable revelations stemming from the revered and highly publicized conference.
One of the many interesting sections of the Medium post written by the twins is titled “Interest is at a tipping point,” and explains how the packed house, combined with the level of audience engagement, signals that investors are still incredibly engaged with the technologies and the industry as a whole, regardless of whether or not the markets are offering them colossal returns.
“Look no further than the packed house we saw from the stage —the energy and excitement around crypto’s future was palpable — money has a future. Perhaps more importantly, the level of engagement and thoughtful questions posed by the audience on topics such as stablecoins, mining, financial disruption, scalability, and others, demonstrates that cryptocurrency is in fact no longer a fringe technology,” they explained.
Because the technology’s user base is growing by leaps and bounds, it does seem as though the markets may be seeing the first glimpse of true maturity, which is typically found in markets that have constant, stable growth, paired with an enthusiastic user-base.
Will the Crypto Winter Lead to Increased Innovation?
There is a widely held belief that bear markets are actually the best market conditions to grow a business in, as it requires companies and projects to buckle down and focus on innovation, rather than simply chasing dollars at the cost of innovation.
The twins elaborated on this sentiment in the blog post, explaining that the quality of projects being developed has never been higher.
“In times like 2017, when mania overshadows discipline, everything seems like a good idea. Today, the quality of projects and entrepreneurs pursuing them has never been higher. We are all forced to make thoughtful decisions and trade-offs, which we believe will ultimately lead to better results for our industry as a whole,” the Winklevoss brothers bullishly noted.
As the industry continues to grow, and projects – like Gemini – continue to improve the ecosystem, it is likely that the markets will eventually follow suit and catch up to the industry’s developments.
Featured image from Shutterstock.
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