The host of the popular market analysis and crypto commentary program Coin Bureau said that the industry is completely different from the “crypto winter” of 2018-2019.
Speaking in a recent YouTube video, Coin Bureau host “Guy” commented on the growing concern that crypto markets are entering a bear market.
Some analysts argue that price trends will resemble the “crypto winter” of 2018 and 2019. But Guy notes that the crypto-asset industry is “almost incomparable” to what it was just two or three years ago:
“The markets have improved. More and more people know about crypto. More and more people are using crypto. Investors are different. Investors invest based on different theses. The conditions that led to the last crypto winter are nowhere to be found.”
The host of the show added that the previous bear market was driven by the ICO bubble that burst in early 2018. Rather than being driven by speculative changes, Guy said, crypto prices are on a downward trend due to factors “outside the crypto market”, including the global pandemic and the impact of monetary stimulus.
Besides, he argued that investors no longer distinguish between cryptoassets and traditional investment instruments such as stocks, leading to a cross-market bearish trend. He also noted concerns that the Fed’s rate hike, supply chain cuts and an impending war with Russia are causing investors to panic.
Finally, Guy also noted that there is a different regulatory and political landscape for crypto. While China had a huge impact on crypto markets in 2018, Guy noted that the country is now “increasingly irrelevant” to the field, citing the recent Bitcoin (BTC) mining ban.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.