The Current Crypto Winter Helped In Weeding Out Fake Investors

Some say the crypto winter has passed, some say it’s still on but whatever it may be, personally I still feel we are still in the bear market because we have just experienced a Bitcoin plunge down past the $20k mark it was a few hours ago down to $18k. I was thinking it won’t go down below $20k anymore and just waiting for the Bull Run but here we are again at $18k. according to coinmarketcap, the current price of Bitcoin is $18,880 as of the time of writing.

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The last time Bitcoin fell down to $18k - $17k, the crypto industry suffered a huge blow as we saw some companies like Coinbase lay off their staff by some percentage and also some crypto industries like Celsius suspended withdrawal, transfers and swap on their platform and this hasn’t been easy with their users because it’s been weeks since the suspension and nothing has been done to fix the problem.

However, the current crypto winter has helped to separate the goats from the sheep, that is, it has helped to weed out the investors that weren’t fit to be in the crypto space, especially those with paper hands. And not just investors but also coins that weren’t fit to be in the space and those that were abusing the opportunities.

Last year, the crypto market saw its peak to be at $3 trillion and currently, it has lost more than 70% making the crypto capitalization to now be less than a trillion. Bitcoin itself has lost more than 50% of its value leaving investors in pain because of the constant loss that they are experiencing, even the little profit made gone too. Bitcoin isn’t the only coin shaking up investors, there are other coins or digital assets still experiencing the dip.

Well, some believe this long crypto winter of digital asset prices we are experiencing is due to the Terra crash which might be true, the crypto market is now trying to recuperate from the crash but hasn’t gotten its balance yet and this may however take a while.

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