We have been hearing about the devastating effect and potentially tragic consequences of the crypto winter for a couple of months with doomsayers trumpeting their fake prophecies from all corners of the internet and in mainstream media. However, the crypto community stays strong and continues using various tokens to either hedge against the falling economy or to buy during this opportune moment when prices are low.
Bitcoin is the main driving force of the industry and has been performing fine considering the pressures that it has been under. The historical data shows that September is the worst period for this token, but many lows were followed by impressive Bull Runs erasing any losses. While it is not something we expect 100% this time due to the overall recession of the global economy, there is enough room for healthy optimism.
Another important reason why the whole community of BTC enthusiasts is quite confident is that the asset seems to be too strong and important to just crash.
Also read:The US representative Bred Sherman recently shared his take on the whole crypto industry and slowly advancing efforts to regulate it. He stated that the crypto industry is too big and has way too much money to be banned or strictly regulated.
While this message sounds negative, we have to remember that all politicians have agendas. We do not want to discuss the political landscape of the US, but there is one undeniable thing: the US government knows that BTC is too big to topple without any consequences. With companies like BlackRock and JPMorgan creating special Bitcoin funds for their biggest investors and many countries continuing with the adoption process, the idea that BTC can fall looks silly.
At the same time, the whole industry is evolving. The Ethereum merge creates interesting prospects for many investors as the new ETH will be representing an optimized network with advanced layer2 solutions and less energy consumption. Cardano has plans to increase scalability and add more features with the Vasil hard fork. We have a lot of exciting events ahead.
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