Ethereum founder Vitalik Buterin said investors could survive a “crypto winter.”
He then said that this could lead to a new universe of digital assets, as prices are currently low enough, which would provide opportunities with significant potential for profit when the upward momentum returns.
The cryptocurrency market collapsed after reaching an all-time high in early November, thanks to expectations from investors and speculators for positive economic news coming from Covid.
As a result, the Bloomberg Galaxy Crypto Index fell by about 45% from its peak, while Ethereum fell by 40%.
According to the 28-year-old crypto billionaire:
“Winter is the time when most of these applications go out. As a result, you can see which projects are sustainable in the long run, both in their models and in their teams and their people.“
Buterin added that crypto winter is “an opportunity to make some significant changes for the better.“
Ethereum is working to make its blockchain faster and more scalable. Investors often criticize the popular blockchain because transactions can be slow and expensive with current technology constraints. But there are now efforts that can make some much-needed improvements to the ecosystem.