Ethereum co-founder Vitalik Buterin, cryptocurrency He said that he thinks the world can actually benefit from the price drops called the crypto winter.
“Bear Market is Necessary for the Short-Term Speculative Effect to Disappear”
Buterin made the following statements on the subject:
“People with a keen interest in the crypto industry, especially those developing in that space, welcome a bear market. The reason why these people welcome the bear market is that although price increases make most people happy, they also bring very short-term speculative interest.”
Buterin also talked about apps that could disappear during the cryptocurrency winter:
“Some crypto apps disappear in crypto winters. So we can understand which long-term sustainable projects are, both as a model, as a team, and as a community.”
Stating that he was surprised by the price rises since last year, the 28-year-old billionaire said that he was not sure whether the crypto industry is entering a winter period or is imitating the volatility in the general markets.
“Crypto Market Begins To Behave Like Traditional Financial Markets”
At the Denver event, the famous name said the following on the subject:
“I think we have passed the era when the crypto market was controlled by a very small group of people and acted independently of traditional markets, and it is now evolving into something that behaves more and more like mainstream financial markets.”
Buterin also said that the crypto winter will be good for developers who produce projects to improve crypto technology.
Vitalik Buterin has shifted his main focus to the scaling of Ethereum in recent years. The Ethereum Blockchain has come under criticism for its slow and expensive operating principle.
*Not investment advice.