Speaking in an interview, Erik Voorhees argued that the volatility seen in bitcoin (BTC) and altcoin markets over the years is a necessary phenomenon for a nascent asset.
“There have to be bubbles in crypto because crypto is taking over the world, and it’s not just going to advance 5% per month without end,” he told the network. He then added:
“If it did that, people would start buying it up and frontrunning it and turning it into a bubble.”
Voorhees, whose firm offers trading wholly within the cryptocurrency realm and does not involve fiat currency conversion for users, was speaking as bitcoin set its highest price in over a year