According to PANews, Scott Melker, a cryptocurrency trader and investor known as 'The Wolf of All Streets', expressed his views on a platform. He stated that the cryptocurrency industry is only experiencing tailwinds, i.e., favorable factors. Despite the prices not yet reflecting this, maintaining a long-term pessimistic attitude could potentially be a poor decision.
Matt Hougan, Chief Investment Officer at Bitwise, commented on Melker's statement, agreeing but with a slightly different perspective. He pointed out that the crypto market is facing several short-term, negative, and non-cyclical headwinds such as Mt. Gox and the U.S. government's sell-off. However, there are also several long-term, significant tailwinds: inflow of ETF funds, victories in court, improvements in infrastructure, and the Lindy effect. The Lindy effect refers to the concept that the longer a technology or idea has been around, the greater the likelihood of its continued existence.
Hougan noted that these short-term, non-cyclical headwinds are suppressing prices, which is a positive for long-term investors.
