Arshad Khan – the chief executive of Yoshi Markets – says the crypto space is crashing right now because people got extremely greedy.

Arshad Khan on the Greed in the Crypto Space

He says the crypto industry is marred heavily because of investors that got into the space not out of interest, but because they just wanted to make money. They entered the arena without educating themselves, and simply sought to purchase coins quickly so they could see their net worth expand. This is coming back to bite the crypto world in the butt.

In an interview, he explained:

This is all because of the greed that came into the market. Certain investors thought digital assets can come with any kind of innovation and it can give very high returns.

He says that while crypto prices are crashing heavily as of late, this can result in a positive “clean-up” for the space in that it will ultimately see all weak-willed crypto traders exiting. Their lack of presence will ensure that crypto traders have a clean industry they can play in and that all investing will be reserved to those who know what they are doing and who have a natural respect for the industry. He commented:

The good thing is that clients should take a lesson out of this, and investors should also start inspecting themselves. You can’t just believe someone who comes to you with promises of high returns. Try to think first if that’s technically impossible.

Khan also stated that this greed has given way to the massive fraud that has ultimately become synonymous with the digital asset world. He mentioned:

Customers have seen what they can lose if they go to platforms that are not regulated or go through some other brokers who promise the moon. In the end, you don’t even get your capital investment back. There are still people sitting on the fence, but you need to create that kind of confidence. If they see a platform regulated, they will have confidence.

No, Crypto Is not a Scam

Despite negative sentiment, Khan doesn’t think crypto is a scam. He stated:

Some say it’s a scam, a bubble, or a Ponzi scheme. Negative news flows faster than good, but I have never seen such a thing that can last for 12 years if that is the case. Look at how blockchain is solving the problems in the financial sector. If you really can understand blockchain and you can appreciate that side, you can completely change your perception.

Bitcoin has been in a state of suffering for some time. The world’s number one digital currency by market cap shot up to about $68,000 per unit last November, though at press time, the asset has fallen by roughly 70 percent and is now trading for just over $20,000.

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