We are in the crypto winter and this time its expected that this will stay longer however no one can predict it completely. People try to apply different strategies and try to predict the market but its not always correct. Some experts are saying that crypto is dead now and its not going to recover. Although this is not the first time when we are seeing in media that crypto is dead. It has happened multiple times in the past and probably not the last time. Today I was reading an article on the internet and in this Economist, Paul Krugman mentioned that this is an endless crypto winter.
He mentioned that since there is no involvement of third parties like banks or any intermediary so this is the reason why crypto will not recover. I don't agree with this because I believe that this is a plus here. With crypto, we get the freedom to transact without any third-party involvement. We get the power to own our money. Banks have been in the existence for a very long time and now things have required a change. People prefer to own the money and this is why DeFi (decentralized finance) is getting more attention. Investing is not always safe and if we seek higher returns then we also need to be ready for the same risk.
the economist brought up was the issue of trust. He noted that a major selling point for cryptocurrencies has been the fact that they are trustless, which means that you don't have to trust a third party: a bank, a person, or any intermediary that could operate between you and your cryptocurrency transactions or holdings.
Bitcoin is trading in the range of 17k USD and I have seen it even at the price of 4000 USD in 2020. There may be a further price drop in the bitcoin price but its least possible that we can see bitcoin at 4k USD. Even I have seen the hive price at $0.10 and now I dont expect that price. Things have grown and the ecosystem is growing. The entire crypto ecosystem is growing and many new people are coming here with their innovative idea. We talk about web 3.0 which is based on decentralization. Play to earn, DeFi and NFT are other segments that see lots of action so its going to grow even more.
Overall I dont see the endless winter in crypto and I have the same belief. I am even trying my best to build this time and hopefully in next few years I will be happy with my decision of investing in crypto this time when there is a lot of negativity around.
Thank you