Why does Ethereum Founder believe Bear Markets are Great for Long-Term Crypto Success?

Vitalik Buterin, the founder of Ethereum, believes that the current fall in cryptos prices augurs well for the long-term success of cryptos such as ETH and Bitcoin. According to Vitalik, the downfall motivates the engineers and researchers to improve the existing infrastructure of cryptos. 

Bear markets bring about a fall in the value of cryptocurrencies. But they also reveal the true character of investors who are backing the crypto coins. Referring to the Crypto Winter, Vitalik said that true believers in cryptocurrency enter the market when the market is not at its best and the price dips.

The replacement of speculative retail investors with more stable institutional investors gives the crypto market credibility. Currently, Ethereum and Bitcoin are valued at a much lower price than the highest highs they hit in November 2021.

Just last year, Ethereum and Bitcoin were soaring to the sky. But now they have fallen by more than 40% in just a few months. The market experts believe that the next support level for Bitcoin is $30,000. If it drops below that, we can see BTC prices go down even more quickly.

But as per Vitalik, long-term crypto supporters are unflinching in such situations and keep on buying the dip. The genesis of what Vitalik has said is that although bear markets are bad overall for most investors, they can be very rewarding for long-term investors.

Also Read: How DeFi Works – Decentralized Finance

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