Ethereum founder Vitalik Buterin thinks the bear market can benefit the industry.
Vitalik Buterin prefers to look on the bright side of the market as cryptocurrencies fall. The Canadian-Russian programmer says in an interview with Bloomberg that members of the industry who are actually building things will welcome a bear market.
Vitalik Buterin stated that he is not sure that the drop in the markets is a new crypto winter, but even if it is, it will create areas that can be beneficial for the crypto world.
According to Buterin, falling prices could push out the speculative surplus in the crypto space. Buterin said:
“People who are deeply interested in crypto, and especially the productive segment, welcome the bear market. These people are happy with the bear market because long periods such as the one we left behind make people happy, but they also attract a very short-term speculative interest.”
Buterin thinks that during a bear market, many cryptocurrency projects can fail and only sustainable ones survive.
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