In a recent debate on Bloomberg, Bitpay CCO Sonny Singh stated that he was still bullish on the cryptocurrency market as more and more institutions and people were entering the space at a rapid rate. At the same time, he mentioned that the bearish market had taken out a lot of bad businesses which were built on just hype and not on anything substantial.
He added: "The traditional companies are all fine right now, while at the same time they are hiring new people. Fidelity and Goldman Sachs are the perfect examples of this phenomenon. Both the traditional bigwigs have delayed their cryptocurrency projects but they will come to fruition soon."