Ethereum blockchain co-founder and prominent leader in cryptocurrency Vitalik Buterin said that investors might be experiencing a “crypto winter,” but it’s not all bad news for them. He went on to say this could lead up into another digital asset universe as prices are currently low enough, which would give opportunities with significant gains potential when things pick back up again like before. In an interview with Bloomberg, Buterin said; A lot of people who are deep into crypto and especially make things welcome the bear market. They welcome the bear market because when prices go up so much in the long run – it’s obviously a lot of people rejoice – but it invites a very short period of time. Speculative attention. Related Reading | Bullish: Signals Suggest That Ethereum Might Make A Break Above $3,085 The cryptocurrency market took a plunge after reaching an all-time high in early November. Owing to investors’ and speculators’ expectations of positive economic news coming out of Covid. As a result, the Bloomberg Galaxy Crypto Index fell about 45% from its peak, with Ether declining by 40%. With the recent rise in prices, many people have seen their assets increase exponentially. CoinGecko is tracking 12,588 different tokens and reminds us all that this isn’t just a bull market. It’s been one for cryptocurrency as well. However, fraud and manipulation in this market can hurt you if used incorrectly or blindly follow leaders like sheep. And to get a rich quick scheme without understanding what they are getting into. Pumps & Dumps occur when traders try to gain money off others’ losses by pumping up prices before selling off at lower levels, creating fear amongst investors who think it might happen again soon, thus driving them towards safety. Crypto Winters As An Opportunity According…
