Bitcoin [BTC] and other cryptocurrencies seeing 80 percent correction is nothing new, says CoinFLEX CEO

The cryptocurrency market’s situation in 2019 has been a much-talked-about topic in the space with several proponents as well as critics giving their perspectives on the current standings as well as the future. The recent official who gave his viewpoint was Mark Lamb, the Chief Executive Officer of CoinFLEX.

In an interview with Bloomberg, Lamb spoke about the advent of the bear run as well as the runway approach taken by the cryptocurrency market. He stated that the 80 percent correction rate undergone in the market is nothing new as such events are commonplace in the cryptosphere. The CEO added:

“One of the things that caught my eye in the boom phase was the sheer over-exuberance of the market, something that has settled right now. Currently, the space is much more focused on building infrastructure and other support architecture required to propagate the industry.”

According to the CoinFLEX official, the key focus of the company is to physically settle Bitcoin futures contract that reduces manipulation and risk. He stated that the concept is something that is followed by gold, oil, treasury futures and is even followed in cash-settled futures.

Lamb focused on the key point that needs to be catered to the users: they should be sure about the time of expiry of the assets as well as the stipulated amount.

Lamb further said that users should not be a victim of market manipulation and claimed that since Bitcoin Futures are tied to the underlying asset, it is useful for commercial hedging and hedging Over-the-Counter trade. Talking about the advantages of the concept, Lamb said that the transparency and the link between the assets offer a great foundation for legitimate trade. He went on to say:

“The Asian market’s contribution to the cryptocurrency space is huge right now and an overtake does not look to occur anytime soon. The regulatory blockades in the United States have slowed down the progress but there are signs of progress.”

The cryptocurrency proponent also stated that being an offshore company has its perks as it allows organizations to cater to markets around the globe and not just a restricted user base. CoinFLEX’s owners also include Bitcoin Cash proponent Roger Ver as well trading Technologies International Incorporated.

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