Ethereum’s Vitalik Buterin asserts that he was aware that the cryptocurrency bull market would eventually come to an end in a recent interview with Noah Smith.
Buterin was certain that the bubble will burst even though many people believed that expensive prices were the “new normal”. The previous bull market, according to Buterin, was overextended because it lasted for about a year and a half. He mentioned that cryptocurrency bubbles can last up to nine months.
The Canadian programmer has also downplayed how severe the most recent price drop was, attributing it to cyclical patterns. According to Buterin, low cryptocurrency prices are not a sign of any underlying problems with the cryptocurrency sector.
Buterin thinks that over time, Bitcoin’s volatility will considerably decline. Although it is still uncertain whether the cryptocurrency industry will be able to obtain widespread acceptance, it is still obvious at what price the cryptocurrency will stabilise.
