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Crypto Winter Offers Opportunities in Chaos

admin by admin
July 18, 2022
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Crypto Winter Offers Opportunities in Chaos
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  • The Managing Director of Ninepoint Digital Asset Group Alex Tapscott calls on investors to keep calm and seize opportunities.
  • He thinks that just like every crypto winter, this one will end at some point.
  • New companies and ideas have emerged from every bear market.

Bear markets often cause investors to signal extreme fear on sentiment barometers. Despite the uncertainty during a crypto winter, some are trying to remain optimistic and focus on the opportunities that such a one can bring.

Alex Tapscott, managing director of Ninepoint Digital Asset Group, told Cointelegraph that the bear market is a time to focus on building your business. Tapscott stressed that it is important to look beyond the horizon of market prices and to recognize the cornerstones that are being laid. Tapscott explained:

“Crypto winters are always the best time to deepen these core concepts, get work done and grow the business for the future. The last bear market brought us the NFT revolution, decentralized finance, stablecoins and play-to-earn gaming.”

According to the managing Director, the current bear market will also lay the foundations for this, so that the full potential of Web3 can be exploited. Tapscott believes that decentralized finance (DeFi), for example, can continue to grow and continue its path as the financial system of the new Internet. He went on to say:

“If Bitcoin was the spark for the financial services revolution, then DeFi is the accelerator. The fire that is spreading will devour many companies that fail to innovate, adapt and accept and take advantage of this hot new industry for themselves.”

The managing director also stated that people should keep an eye on the developments in the field of decentralized autonomous organizations (DAO). Tapscott believes that DAOs will complement the companies as a method of organizing resources.

Tapscott also says that crypto assets have lost around $2 trillion in value over the course of the crypto winter. Mainstream media would then have published obituaries for Bitcoin (BTC). However, the crypto veteran calls on investors to keep calm and look for opportunities, as bear markets often lead to the emergence of great ideas and new companies. He also said:

“The most successful people in the crypto economy are those who stay calm and move on. I don’t know when this bear market will end, but I am very confident that it, like everyone else, will end.”

The managing director of the also stressed that the downward spiral of crypto prices is scary when investors look at the short time frames. However, this could be in the end, as investors would also have gradually calmed down.

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