The overall impression left by the crypto winter on the community seems to be quite positive, especially for those who are in for the long term. While diminishing returns and contraction of the market are bad things now, the future perspective for the crypto industry seems to be quite bright considering its growth potential.
Separating weed from the chaff
Irina Hiavas, a partner at the venture capital investor company Atomico, calls people who come to the crypto industry to speculate “tourists”. She uses this word with an apparent negative connotation pointing out that investors who won’t be staying when things are going south should not even be in the business. Since the crypto industry unites visionary people who are looking far into the future, it is important to remove such “tourists” from the industry as early as possible.
Haivas believes that the reduction of the hype is generally a good thing because it allows many companies to focus on building sustainable, long-term solutions and implementing utility-focused features instead of trying to sell the next big thing. It allows the industry to weed out projects that do not have any long-term plans and/or viable monetization models to be profitable in the future.
The bulk of people who are not against the crypto winter, in general, is comprised of holders who do not want to sell off their assets and liquidate long positions despite what is happening in the market. To top it all, Bitcoin seems to be outperforming stocks and indices making a strong bid for the position of a hedging mechanism against inflation and other external factors that can compromise investments in traditional instruments.
The future seems quite promising for the crypto industry
With the arrival of big players like Nike, Disney, Christie’s, and many others, the long-term perspective of blockchain technology seems to be promising. Bitcoin, as the foundational “block” for the whole industry, will remain in its position as a safe and stable instrument with huge growth potential. The fact that some people are trying to leave the ship now is a good thing.