Vitalik Buterin Expects Another Crypto Winter

by in Cryptocurrency News

Vitalik Buterin about possible crypto winter

Crypto influencer, Ethereum co-founder Vitalik Buterin said in an interview with Bloomberg that investors might face another crypto winter, mentioning that it isn't entirely bad news.

Related: Vitalik Buterin Talked About the Future of Blockchain Adoption

According to him, current low prices provide opportunities to invest and receive increased returns when prices go up again significantly. Buterin said that people who are deeply involved in crypto mainly welcome the bear market to benefit in the long run. Buterin also said that the bear market invites a very short time and requires speculative attention. He said that winters decide which crypto apps will fall away, and which ones are actually long-term, proving that their models and teams resist.

The Ethereum co-founder mentioned that he wasn't sure if the market faces another winter, or if it's just reflecting the volatility in larger markets.

Currently, the total crypto market cap stands at around $1.79 trillion. Bitcoin trades at around $39.200, which is around 42% down from its all-time high of $68.780 reached on November 10. Ethereum trades at $2740. The price is 43% down from its peak of $4890.