2022 did not go well for Bitcoin and altcoin projects as FTX collapsed following the Celsius, Terra and Three Arrows Capital (3AC) crisis. The value of many cryptocurrencies is well below the all-time record set last year. Thus, we have entered a cryptocurrency winter. However, one expert thinks we are at the end of the cryptocurrency winter. Here are the details…
Are we at the end of winter in the Bitcoin and altcoin market?
As we reported on Kriptokoin.com, 2022 was a bad year for cryptocurrencies as companies like Celsius, 3AC and Terraform Labs failed and the value of coins like Ethereum dropped 67 percent. However, Anastasios Papakonstantinou, a startup growth advisor, said that the crypto winter is probably near the bottom. Papakonstantinou said, “We have seen this bubble that does not really deflate, but bursts.” Papakonstantinou seemed optimistic that the technologies emerging from the crypto market shakeup would be profitable and beneficial. The expert used the following statements:
I think we’re almost in the middle of this bubble, so we’re going to have another year or so of turmoil and volatility. The (previous crypto winter) in 2017 really made some technical innovations happen, and maybe a reassessment. I think we should look at the same thing again here.
What are the exciting innovations?
One of the technologies Papakonstantinou is excited about is the integration of education with artificial intelligence. In this respect, the expert explained that he has invested and consulted several educational initiatives. Papakonstantinou said that after the twelfth grade, students had difficulties directly getting a job and going to university. He mentioned that students need to understand what skill set they will need. Therefore, “artificial intelligence can provide some insights,” he said.
The AI interface takes existing data, processes it, and suggests students ideas for their future. “In addition to market trends, there is also historical data, geographic data and perhaps cultural trends,” Papakonstantinou said. “Obviously, AI cannot imagine what will happen… but we as humans can see the ideas generated by AI,” he said.
The importance of environmentally friendly technology is increasing
Papakonstantinou said that in the next two to five years everything “related to ESG (Environmental, social and corporate governance)” will be “huge”. The expert used the following statements:
In my humble opinion, climate technology will be huge over the next two to five years. Anything that activates or has to do with ESG will definitely be huge. I don’t think there is a very developed market especially in Europe and the USA. I have several meetings with Saudi Arabia. They also put a lot of effort and focused a lot on the ESG as well.
As we have reported as Kriptokoin.com, there are also cryptocurrencies focused on the ESG field. Examples of these are Algorand (ALGO), Cardano (ADA), Chia (XCH), Hedera Hashgraph (HBAR), IOTA (MIOTA).
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