- Kevin O’Leary holds the 32nd position in the digital asset sector.
- Kevin is still on the lookout for a significant capitulation event.
In a recent interview with the investment channel on YouTube, Shark Tank star and venture capitalist Kevin O’Leary stated his belief that digital assets have not bottomed out. Also, he predicted that there will be a significant capitulation event, which will cause panic and dread among cryptocurrency investors.
Kevin O’Leary’s Warning
Despite the fact that the market capitalization has decreased by more than half since its peak. The billionaire Kevin O’Leary is still on the lookout for a significant capitulation event that would shake the cryptocurrency market.
I like a big, big panic event. That’s always been a great way to bottom — It’s towel throwing, it’s capitulation, it’s massive volume, it’s total panic in the streets — and always a great buying opportunity.
He believes that the market current event will be wonderful and it will eliminate all of the inadequate, weak company strategies, high levels of leverage, and risky speculation.
However, O’Leary highlighted is referred to the cryptocurrency brokerage Voyager, which earlier this month filed for chapter 11 bankruptcy after a significant borrower missed payments on a huge loan.
In June, Kevin revealed that, even with the current state of the cryptocurrency market’s decline, he has no plans to sell bitcoin or any other cryptocurrencies. The cryptocurrency market continued to receive support from the billionaires even after the crypto market crashed and he is holding the 32nd position in the digital asset sector.
Meanwhile, the cryptocurrency market is constantly experiencing a dramatic meltdown, the major cryptocurrencies continue to suffer huge losses. At the time of writing Bitcoin is traded at $20,500, and the leading altcoin Ethereum is traded at $1,145.
