- David Marcus seemed to confess that the crypto winter had already begun.
- The last time this occurred BTC dropped by as much as 80% from its ATH.
After the Federal Reserve of the United States announced on Wednesday that it would be lowering the size of its balance sheet, there was a brief decline in the market that saw Bitcoin trading around $37,000 after providing a sigh of short-term relief around $39,000. There are fears among cryptocurrency investors that the worst is yet to come after the dramatic decline in bitcoin and other digital currency prices in recent weeks.
Read More: Bitcoin Price Prediction
Just as Bitcoin’s value continues to fall, the whole crypto market has lost over $1 trillion in value since its all-time high, with popular tokens like ether and Solana following suit. Ethereum’s value has dropped by more than half since its high in November, while Solana’s value has plummeted by a whopping 65 percent.
Big Bears Dominate Market
Some crypto investors are concerned about the “crypto winter,” which refers to big bear markets in the young digital currency market. The last time this occurred, between late 2017 and early 2018, bitcoin dropped by as much as 80% from its all-time highs, which was similar to the most recent event.
Popular analyst Lark Davis tweeted a video shedding light on the ongoing crypto winter used by the media and various analysts. Have a look at the tweet:
Don't be fooled by what is happening in #crypto right now! https://t.co/YRv9QJWeUj
— Lark Davis (@TheCryptoLark) January 27, 2022
The former head of crypto at Facebook-parent Meta, David Marcus, seemed to confess that the crypto winter had already begun.
David remarked in a tweet on Monday:
“It’s during crypto winters that the best entrepreneurs build the better companies. This is the time again to focus on solving real problems vs. pumping tokens.”
