Shark Tank’s Kevin O’Leary explains why he’s buying the dip in bitcoin and says the collapse of risky tokens will help the crypto market in the long run maybe he was pointing to LUNA’s recent crash as it crashes from 119 to 0.0005.
He mentions that am not gonna sell anything of my holdings. Long term you just have to stomach it. You have to understand you’ll get volatility, and that some projects aren’t going to work as crypto is highly volatile.”
The future of the crypto sector
Kevin O’Leary said recent crypto collapses teach investors to trade with caution and can help further the technology underpinning digital assets.
In the context of global financial markets, he added, the collapse won’t change the status quo, even when tens of billions of dollars disappear from the market. But the lessons are sound.
“It’s bad for investors, but they’ve educated the market on what not to do. It’s a good thing,” He said.