Number of deals has dipped; Cryptocurrency funds moving towards markets – Michael Arrington
With the cost of Bitcoin [BTC] on the ascent and the aggregate crypto market on a rise, cryptocurrency reserves have veered far from expanded venture and have prepared their emphasis available, guaranteed Michael Arrington.
Arrington is the Founder of Arrington XRP Capital and the Silicon Valley news outlet, Tech Crunch.
In a dialogue with Ran Neu-Ner on CNBC’s Crypto Trader show, Michael said that the mood was considerably bullish. Concluding market added around $40 bn in less than a week, virtual currency-centric funds have seen a wave of optimism, he further stated.
“I just know that if we put money into the market, and hold long enough and make good bets, eventually, hopefully, we’ll make money. I think the deals will pick up again, entrepreneurs will start to build companies because they know they can raise money and we’ll start to see really good deal flow coming in.”
Arrington further said that there was a fall in the deals in conferences, such as Deconomy. With this being the reason, funds are flowing away, and are seeking to have a good trade in the market.
Michael remained positive about the current situations, saying
“I think the deals will pick up again, entrepreneurs will start to build companies, because they know they can raise money and we’ll start to see really good deal flow coming in.”
Questions were asked to Arrington regarding this year of getting the currency stronger, if the projects were ready to be implemented, or if they were still under development. Michael responded by adding that the mainnets are rising.
He has a belief about this year to be the “season of the mainnet”