Shervin Pishevar is an Iranian-American entrepreneur, venture capitalist, and super angel investor. He is the co-founder and former executive chairman of Hyperloop One and a co-founder and managing director of Sherpa Capital, a venture capital fund which has invested in companies including Airbnb, Uber, and Munchery.
As Bitcoin goes so does the cryptoverse. Shervin Pishevar tweeted about economic factors that illustrate how the original blockchain, Bitcoin, fuels the overall cryptocurrency market. The market is volatile. Bitcoin is by far the most popular crypto coin. Because of these market characteristics, Bitcoin is generally the first coin investors analyze at the beginning of a bull market. The result is that emotions are more intimately tied to Bitcoin than other cryptocurrencies. Go To This Page for related information.
Shervin Pishevar calls attention to credit, interest rates, and tax giveaways. These factors are often part of the discussion about nonessential and luxury products. Unlike commodities, cryptocurrencies do not sustain modern life. The market is becoming more important across industries because of its potential to reshape the world.
Bitcoin has a tendency to spike at a year’s end. When this happens, there is a tendency for prices to fall sharply during the beginning of a year. A slow, consistent climb returns the price to a non-inflated level. February is sometimes a turnaround month. It is not uncommon to witness a market dip followed by this type of correction and still be weary of the market. This is what led to the now popular saying HODL (hold on for dear life).
Cryptocurrecy markets are by no sense mature. Shervin Pishevar’s comment illuminates why the market is young. In fact, there is a consensus among crypto enthusiasts that it has a long way to go. To be a true market, it cannot just follow the ups and downs of Bitcoin. Many investors think a true market will form when cryptocurrencies are used as a medium for payments and purchases. While this does occur now, it is much too isolated to even slightly influence the cryptocurrency market. Transactions need to be internally influential before other industries will take notice.
Establishing a true cryptocurrency market is where Shervin Pishevar’s comment about taxes, credit, and interest rates is important. These indicators are often part of economic discussions during the holiday season when Bitcoin tends to spike. It needs to become more stable and less influential over the other cryptocurrencies.
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