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Bitcoin may continue to tumble, but how long will the ’crypto winter’ last?
January frightened the market, which was already reeling from a greater sell-off. While BTC lost 50% of its value and the market suffered hundreds of millions of dollars in losses, the market appeared to be on the verge of recovery at the time of publication.
Scottish historian Niall Ferguson, on the other hand, feels that if Bitcoin continues to follow its historical trend, it could fall further, as it did in 2017. According to him,
"If this historical pattern holds true, the price would plummet to a low of $11,515 in November, 83 percent below its November 2017 high."
We should recall that economist and Nobel laureate Paul Krugman recently expressed reservations about the crypto asset class. The sceptic drew analogies between the volatile bitcoin market and the collapse of the US property sector in 2007 and 2008. Ferguson, on the other hand, says Krugman's reasoning "does not appear to be the appropriate historical analogue." He contended that.
"That is not to suggest that the crypto winter cannot inflict a chill greater than the polar vortex or bomb cyclone conjured up by Roubini and Krugman."
Having said that, Ferguson's financial history application anticipates that this crypto-winter will soon come to an end. According to him,
"It will be followed by a spring during which Bitcoin makes steady progress towards being not just a volatile derivative of digital gold, but trustworthy digital gold itself."
In a similar vein, American entrepreneur David Marcus, co-founder of Diem, has predicted that Bitcoin will be "alive and well in 20+ years with compounding relevance over time." Indeed, he coined the term "leaderless" leader on Twitter.
Crypto-aftermath winter's on Web3
Despite concerns about the so-called "Crypto-Winter," Marcus earlier claimed that these are the times for "the best entrepreneurs to develop the best enterprises." And, in the future, Web3 chatter will continue to grow in popularity. Google's Web3 future was confirmed during Alphabet's recent fourth-quarter results call. According to Sundar Pichai,
"With regards to Web3, we are absolutely considering blockchain, which is an intriguing and strong technology with numerous uses, far more than any other application."
Google's cloud division also recently announced the formation of a blockchain application development group. Meta is clearly facing stiff competition.
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By Crypto PiratesJanuary frightened the market, which was already reeling from a greater sell-off. While BTC lost 50% of its value and the market suffered hundreds of millions of dollars in losses, the market appeared to be on the verge of recovery at the time of publication.
Scottish historian Niall Ferguson, on the other hand, feels that if Bitcoin continues to follow its historical trend, it could fall further, as it did in 2017. According to him,
"If this historical pattern holds true, the price would plummet to a low of $11,515 in November, 83 percent below its November 2017 high."
We should recall that economist and Nobel laureate Paul Krugman recently expressed reservations about the crypto asset class. The sceptic drew analogies between the volatile bitcoin market and the collapse of the US property sector in 2007 and 2008. Ferguson, on the other hand, says Krugman's reasoning "does not appear to be the appropriate historical analogue." He contended that.
"That is not to suggest that the crypto winter cannot inflict a chill greater than the polar vortex or bomb cyclone conjured up by Roubini and Krugman."
Having said that, Ferguson's financial history application anticipates that this crypto-winter will soon come to an end. According to him,
"It will be followed by a spring during which Bitcoin makes steady progress towards being not just a volatile derivative of digital gold, but trustworthy digital gold itself."
In a similar vein, American entrepreneur David Marcus, co-founder of Diem, has predicted that Bitcoin will be "alive and well in 20+ years with compounding relevance over time." Indeed, he coined the term "leaderless" leader on Twitter.
Crypto-aftermath winter's on Web3
Despite concerns about the so-called "Crypto-Winter," Marcus earlier claimed that these are the times for "the best entrepreneurs to develop the best enterprises." And, in the future, Web3 chatter will continue to grow in popularity. Google's Web3 future was confirmed during Alphabet's recent fourth-quarter results call. According to Sundar Pichai,
"With regards to Web3, we are absolutely considering blockchain, which is an intriguing and strong technology with numerous uses, far more than any other application."
Google's cloud division also recently announced the formation of a blockchain application development group. Meta is clearly facing stiff competition.
Support us!