The host of the popular market analysis and crypto commentary show Coin Bureau says that the industry is completely different from the “crypto winter” of 2018-2019.
Speaking in a recent YouTube video, Coin Bureau’s host “Guy” commented upon the growing concern that the crypto markets have entered a bear market, with some analysts claiming price trends will resemble those of the “crypto winter” of 2018 and 2019.
Guy noted that the industry of cryptoassets is “almost incomparable” to what it was just two or three years ago.
As reported by The Daily Hodl, Guy said,
The markets have evolved. More people know about crypto. More people are using crypto. The investors are different. The investors are investing based on different theses. The conditions that led to the last crypto winter are nowhere to be found.
The show’s host also noted that the previous bear market was driven by the initial coin offering (ICO) bubble which burst in early 2018.
Rather than being driven by speculative changes, Guy said that crypto prices were downtrending due to factors “way outside of the crypto market,” including the global pandemic and influence of monetary stimulus.
Guy argued that investors were no longer discerning between cryptoassets and traditional investment vehicles such as stocks, leading to a cross-market trend of falling value. He also noted recent worry over the Federal Reserve hiking interest rates, supply chain disruptions, and a looming war with Russia as causing investors to panic.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.