Cryptocurrency industry especially in 2017, it received very harsh criticism and among them “Tulip madness” similes were included.
The record price rise that tulip saplings once experienced and the continuation of the bottom, from time to time bitcoin‘I (BTC) It is used to criticize and show that this too will end.
A new one of these recently Hyundai Card Vice President Chung Tae-young added.
NFTs and Cryptocurrencies Are In Tulip Craze
Chung Tae-young In his statement on the subject, he stated that especially NFTs and the metaverse area fit the tulip frenzy exactly and that they would experience a much harder collapse.
Tae-young stated the following in his post on the subject:
Although there are ups and downs, it can be said that what is happening in the crypto money industry is actually the end of the tulip frenzy phase in the Netherlands.”
The vice president of the credit card subsidiary of Hyundai, the largest automotive manufacturer in South Korea, is also a name with an interest in the cryptocurrency industry.
Previously, the company was seen partnering with Ground X, Kakao’s blockchain arm. Now it’s a warning to the industry as a whole, with Chung saying that NFTs and the metaverse space are in the tulip craze stage.
In addition, Chung also stated that investors should definitely reduce their portfolio ratios in crypto money investment. Although there are many people who compare the tulip mania seen in the 17th century with the crypto money industry, they have been wrong since 2017.