bitcoin According to David Marcus, CEO and founder of Lightspark, Bitcoin and cryptocurrency units may not fully recover from the negative effects of malicious people until at least 2024.
David Marcus Claims Bitcoin and Cryptocurrency Winter Will Last Until At least 2024
In a blog post, Marcus noted that the “crypto winter” will likely last until 2024, due to the impact of unethical participants on market and consumer confidence, as well as the need for responsible regulation.
These negative effects have led to underperforming the market and disrupting historical patterns, such as Bitcoin’s four-year halving cycles, that typically yield growth in certain years. Some experts had predicted that the next halving cycle in 2024 would create a bullish period and the uptrend would potentially start in 2023.
However, Marcus believes the recovery will be beneficial for legitimate industry participants in the long run, as it will lead to a stronger and more focused industry.
In his blog post, Marcus also emphasized that the cryptocurrency industry needs to shift its focus from profit-driven efforts to real-world applications and problem solving. He stated that the days of making tokens out of nothing and making millions are over and the industry now needs to work to generate real value and address real problems.
Marcus also highlighted the potential of the Bitcoin Lightning Network to become a leading payment protocol in the future.
In addition to the recovery process, Marcus also touched on the importance of regulation in the cryptocurrency industry. He argued that responsible regulation is necessary to protect consumers and ensure the fair and transparent functioning of the market. This will also be crucial for rebuilding trust in the industry and for greater adoption.
*Not investment advice.
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