The cryptocurrency market has lost over 30% in just one week since the Fed raised interest rates to respond to rising inflation. Cardano founder Charles Hoskinson says new investors are experiencing their first “crypto winter” and the process can take months or weeks. Very optimistic that the crash will soon make up for it…
New investors experience first crypto winter
Million-dollar liquidations and over 50% apricots have pushed many investors to give up on all cryptocurrencies except stablecoins . Seasoned traders should not be alarmed as the recent drop was no surprise. However, investors who have not experienced the ups and downs of the market in recent months have started a panic selling frenzy. The chart below shows the market cap of cryptocurrencies in 2017, 2018 and 2019.
Cardano founder welcomes new investors
New crypto investors were welcomed by Cardano founder and CEO Charles Hoskinson with a welcome message to the first “crypto winter.” The market has been around since 2011 and has seen multiple bear and bull seasons, Hoskinson says. According to Hoskinson, the market is currently in “blood in panic” and the sharp price fluctuations will soon end.
Charles Hoskinson remains optimistic
Hoskinson, who is also a mathematician, predicts that the crypto winter will be back in a few weeks or months. In a tweet during the day, he made the following statements that reassure investors:
If this is your first crypto winter, welcome. I’ve been through a lot since 2011 and they always hit it like a cold ice bath. We are in a panic. Once a bottom is found it will clear within weeks or months. Then a long climb up the ladder.
Cardano CEO tells investors that various assets are bigger than the previous week He advises them to be resilient in the face of the current market downturn, which sees it losing value. As we have included in the analysis of Kriptokoin.com, the cryptocurrency market has lost 20% in the last 24 hours. As of Thursday, the entire cryptocurrency market is in free fall. In this time frame, almost the entire altcoin market has lost more than 20%.
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