Canadian businessman Kevin O’Leary predicts a crypto panic attack. Talking about crypto decline during an episode of "Meet Kevin", the executive said he doesn't believe that we have seen the bottom of the crypto market yet. According to him, the bottom will come when some of the “big guys” goes to zero, which hasn’t happened yet. A big panic event like that will benefit the industry, and it’s a great buying opportunity, O’Leary says.
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Commenting on the difficulties that crypto lenders have been facing, Kevin O’Leary said the situation is related to great volatilities that crypto operators haven't seen before. He mentioned that some companies used aggressive leverage methods which led to a crisis.
Kevin O’Leary says we are going to see a whole new series of crypto companies crash to zero over the next several months. The businessman finds the good thing about the situation is that it educates business models. He mentioned that the fall is a part of the growth as it strengthens the market by removing bad ideas and educating participants.