Coinbase CEO Tells ‘Don’t Panic’ Over Bitcoin Price
“When there is hype, people are irrationally exuberant. When there is despair, people are irrationally pessimistic. Neither is true, reality is always somewhere in the middle, more correlated with real usage (transactions per day) than the price
Coinbase ran into its own problems as it grew to meet user demand. Suffering from systems outages and customer service problems but Armstrong told his team that this is the time to improve.Through the twitter thread he tried to put the recent boom and correction into long-term perspective by comparing it with the less dramatic but still considerable price spikes of 2013 and 2014, writing that; “It can be scary the first time you see it, but to us who have been in the industry for many years, it feels like old news.