scientist and cryptocurrency expert Prof. Dr. Philipp Sandner takes a look at last year’s data and says he sees a lot of potential as well as bankruptcies.
Dr. “The times when venture capitalists were throwing out heaps of cheap money on projects are over,” Philipp Sandner writes for Forbes.
“A Proper Legal Environment Must Be Established Before The Next Crypto Bull”
Despite the bear market and the complex macroeconomic situation, the economist approaches the issue with cautious optimism:
“While the current market environment may seem extremely bleak at first glance, the numbers at second glance at least temporarily reveal a different picture. Even though the turbulence in the markets has affected many people, the slogan #BUIDL is consistently maintained.
Financial resources allowed it, and behind-the-scenes funding and development had reached new heights, at least in the first half of the year. The creators and builders of decentralized systems are still convinced that blockchains have the potential to positively change many aspects of our daily lives.”
But before the next cryptocurrency bull is expected, Sandner says more “crypto-friendly” legal certainty and more favorable macroeconomic conditions are needed. Because, as the crypto expert said, “the macroeconomic environment makes it extremely difficult for financing and transaction volume to continue at the pace recorded in past quarters.”
of Germany bitcoin and has a positive attitude towards other cryptocurrencies. The German Federal Financial Supervisory Authority (BaFin) accepted Bitcoin as an “economic unit of account” in 2013 and then declared that it should be considered as a financial instrument.
*Not investment advice.
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