Have you heard about the onset of crypto winter?
Crypto winter is a term that’s making the rounds again as the global crypto market has shed $1.2 trillion in the last three months. Commonly associated with the bitcoin market downturn between late 2017 and late 2018, crypto winter refers to a prolonged bearish period where asset prices persistently fall over many months.
Glassnode analysts claim that on-chain metrics point to a bearish outlook for BTC — 219,000 addresses have “zeroed out” over the past month, which may indicate the beginning of an outflow of users from the network. After all-time highs in early November, the prices of cryptocurrencies began a deep decline, which led to losses for traders, liquidating their positions.
In addition, Vitalik Buterin, the founder of Ethereum, gave an interview to Bloomberg about the beginning of the crypto winter and the advantages of the current price decline, which has cooled investor demand. The developer is sure that this period contributes to the creation of serious cryptocurrency projects with improved technologies and removes unreliable and weak ones from the market.
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