Kevin O’Leary, investor and star of the television show Shark Tank, has said in a comment to CoinDesk that it is possible to determine whether the cryptocurrency market has reached the bottom only if there is a serious negative event.
He has said:
“You won’t get the bottom until you have an event.”
The TV star has added that for the players involved, this is obviously not a positive thing. In his opinion, “panic determines the bottom” as the market capitulates before breaking out of the lows and slow recovery.
O’Leary is a strategic investor in Canadian DeFi platform WonderFi Technologies. He has announced his vision of the situation on the crypto market on the eve of the listing of the company on the Toronto Stock Exchange.