Bitcoin has had its fair share of ups and downs. Bitcoin supporters have always been eloquent about its resilience, or if it can be put to the point, its ability to come back from the dead. Bitcoin has been declared “dead” in the mainstream media 434 times.
Despite numerous occasions when various personalities and publications declared him dead, the asset continues to increase in value and is adopted by major institutions, including prominent traditional finance. The plot below highlights the same thing.
The two largest cryptocurrencies, BTC and ETH, have suffered a significant amount of FUD since their inception. However, investors continue to place their faith and money in these assets, regardless of the ongoing consolidation phase.
Ross gerberGerber Kawasaki Wealth & Investment Management CEO spoke about this phenomenon in an interview.
– Ross Gerber (@GerberKawasaki) December 10, 2021
In its recent interview on Yahoo Finance, he praised the resilience of the two largest cryptocurrencies, using a unique comparison.
“Bitcoin and Ethereum are like roaches, they just aren’t going to die … Bitcoin and Ethereum have been the best way to play with these assets in the long term.”
Are here to stay
He went on to mention that both cryptocurrencies were close to dying, but would manage to come back stronger than ever:
“In the seven years, I’ve seen them nearly die multiple times, and they continue to survive like cockroaches for thousands, if not millions of years.”
Besides this, he also talked quite a bit about other tokens. He referred to other coins that exclude BTC, ETH, and Binance Coin as “get rich” coins. Basically, you don’t want to do anything with cryptocurrencies that are of no use as you consider yourself a long-term investor.
Furthermore, the CEO raised the alarm about the arrival of the “crypto winter” as inevitable.
“… So stay tuned Crypto and NFT lovers. It will be brutal. “
As seen in the past, these patches have been a struggle for the entire cryptocurrency sector. Any sustained period in which the share of the first cryptocurrency fell below 40% was in the periods January-March and April-June in 2018.
After that, the dominance of BTC rebounded with the deepest crash of altcoins, which was later referred to as the winter of cryptocurrencies. Gerber had also warned investors in the past, urging them to avoid such “speculative” altcoins.