Crypto winter presents an opportunity amid chaos, says asset group exec


Bear markets often cause investors to display extreme fear in instruments that measure market sentiment. However, despite the uncertainties during the crypto winter, some prefer to focus on the opportunities it can provide.

Alex Tapscott, managing director at Ninepoint Digital Asset Group, told Cointelegraph that a bear market is a good time to focus on building. Tapscott highlighted that it is essential to look beyond market prices and see which fundamentals are being laid. Tapscott explained that:

“Crypto winters are always the best time to delve into these core concepts, do the work and build for the future. The latest bear market brought us the NFT revolution, decentralized finance, stablecoins, and games that win by playing.”
According to the CEO, the current bear market will also lay the groundwork for realizing Web3’s full potential. For example, Tapscott said that decentralized finance (DeFi) could grow further and continue its path as the new Internet financial system. he said that:

“If Bitcoin is the spark for the financial services revolution, then DeFi is the accelerator. The spread of the fire will engulf many companies that fail to innovate, adapt, and embrace this hot new industry.”
The executive also noted that people should look for developments in decentralized autonomous organizations (DAOs). Tapscott said DAOs will complement businesses as a way to organize resources.

Related: Crypto Winter Survival Guide: Community Shares Bear Market Game Plan

During the current bear market, Tapscott reported that crypto assets lost about $2 trillion in value, prompting major media outlets to write an obituary about Bitcoin (BTC). However, the crypto veteran encouraged investors to keep their cool and find opportunities, as bear markets often lead to great ideas and new business creation. he said that:

“The most successful people in cryptocurrency are those who can keep calm and carry on. I don’t know when this bear market will end, but I am absolutely confident that it will, like all the others.”
The executive also highlighted that the downward spiral in cryptocurrency prices is horrific if investors look at the short-term timeframe. However, Tapscott also said that the pain may end as investors appear to have calmed down.



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