Ethereum co-founder Vitalik Buterin thinks that “Crypto winter” is here, and many investors might already be experiencing it. Though, he explained that it is not bad news and is a great opportunity for many. There are many investors who might have missed the bandwagon in this bull run, and they can make the most of it. For others as well, a crypto winter gives a great deal of time to accumulate for future market cycles.
Vitalik on the crypto winter
Bloomberg recently interviewed Vitalik, and there, he shared his opinion on the current market scenario and the supposed crypto winter. He said that bear markets are a lot of people’s rejoice because the prices move up quite a lot in the long run. So, this gives many a short period of time to pick up projects at good prices. It also gives a better perspective on what will happen in the future as many projects die out during such a market period.
Keeping a close eye on the price, team, and project development one can make a good investment during crypto winter. While it is surprising, Vitalik is not 100% sure whether this is really a total crypto winter or the market is just too volatile with so many economies participating in crypto markets this year. Whatever the case is, it is a good opportunity for those who have been looking to enter the crypto markets for a while.
Bitcoin and Altcoin movement
After the price of Bitcoin reached $65k, it corrected to $30k for about 3 months. It then made a new all-time high of $69k, but Bitcoin crashed again, and we have now been trading nearly 40% below the ATH at $40k. This recent crash was also accompanied by much higher corrections in altcoins. They have been on the downtrend for a while and are anywhere near 70%-90% below their ATH.
Seeing the current market scenario, it is unlikely that the market will recover anytime soon. And it will be a while before we see another altcoin rally. So, it might be for a short period, but we might very well be in a crypto winter.
What are your thoughts as Vitalik Buterin thinks that “crypto winter” is here? And do you see this as an investment opportunity for the next bull run? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Tesla’s new diner and drive-in theatre will accept Dogecoin says Elon Musk.