In a recent interview with Yahoo, Ross Gerber, Co-Founder and CEO of Gerber Kawasaki, compared Bitcoin and an altcoin project to “cockroaches” and highlighted their resilience. Let’s take a quick look at the market circulars of the famous CEO…
“Bitcoin and Ethereum will continue to survive like cockroaches”
Let’s start with the words of Ross Gerber:
Bitcoin and Ethereum are like cockroaches, they will not die… Bitcoin and Ethereum have been the best way to invest in cryptocurrencies for the long term.
Ross Gerber continues by mentioning that both cryptocurrencies are close to death, but that they will manage to come back stronger than ever:
In seven years, I’ve seen them nearly get killed several times, and they continue to survive just as cockroaches have lived for thousands, if not millions of years.
Gerber wary of altcoin market
Apart from these, Gerber says that he does not want to invest in cryptocurrencies, which is of no use, as he sees himself as a long-term investor. The American investor also warned the cryptocurrency crowd that the next crypto winter will eventually come and it will be “brutal.”
As reported by Somanews, market leaders Bitcoin and Ethereum fell 30.18% and 17.35% from their local peaks after the October and November ATHs. This correction wiped $15,600 off the Bitcoin price within hours on Dec. 4, while the market cap of the leading cryptocurrency fell below $1 trillion after a long hiatus. Ross Gerber says that such corrections are seen a lot in the crypto market, but a long winter may eventually come.