24.05.2022

New crypto winter

The Blockchain Life team has a strong belief that now the industry is not only in crisis but is also being tested for maturity and strength. Without a doubt, this test will be overcome but we decided to find out – what are the reasons for the new crypto winter and how long will it last?

Recognized experts, whom you already know from the speeches at previous Blockchain Life forums, helped us in this.

Sergei Khitrov, Founder of Blockchain Life, Listing.Help and Jets.Capital

Of course, the crypto market is now in a state of crisis. However, it is important to note the following – the industry has already reached a much higher level of development compared to previous crypto winters, therefore, falls are paid off on completely different indicators.

I would name two factors as the reasons for the crisis – the fall of the stock market and the infamous events with LUNA and UST. All this, in the end, simply caused a panic among investors and therefore led to the situation in which the market ended up for now.

If we talk about forecasts, then no one will tell the exact dates. However, I can emphasize that within 5 years, along with the onset of mass adoption, the capitalization of the cryptocurrency market will still grow significantly.

Darina Kharitonenko, Senior Analyst at Jets.Capital

If we talk about the fundamental reasons for the fall of the crypto market, then, in my opinion, they fully correlate with the reasons for the fall of the stock market and the economy as a whole. When the world is in an unstable economic situation, people are afraid to invest, and the crypto market feels this fear especially strongly as the market for high-risk assets.

It seems to me that the cryptocurrency still has room to fall and at the moment there are no fundamental reasons for a recovery in growth. I see no reason for a radical change in the situation in 2023 either. However, in 2024 there will be a Bitcoin halving and there is hope for economic recovery.

I build my investment strategy based on such horizons. On the other hand, it is no secret that the crypto market is very manipulated by large players (“whales”), who can “pump” the cost of bitcoin and other altcoins at any time and return the joy to crypto investors.

Roman Kaufman, co-founder of Berezka DAO and founder of DeFi Hardcore

It’s an amazing time now, crypto investors were waiting for 1 BTC ~ $100,000, and we see a rate of $30,000.

I am currently based in Israel and talking to very large FinTech companies that are looking closely at DeFi and the entire Blockchain ecosystem. Therefore, I would single out the following factors for the market decline:

  • FlashCrush with UST and Luna tokens
  • Protocol hacks (Ronin Network $615M, Poly Network $613M, Wormhole (Solana) $322M)
  • 92% drop in NFT sales
  • Geopolitical situation

Given all the recent events, we can confidently say that we are in a bear/falling market.

Anyway, this Winter is an excellent clearing of the market from pyramids, scammers, marketing frauds and other amazing guys. According to our data, the crisis may last 1-1.5 years and the value of assets may fall really low. Well, let’s buy then.

Blockchain Life 2022 takes place on September 14-15 in Moscow!

Buy tickets online: https://blockchain-life.com/europe/en/#tickets-row

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