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Home » What is going on with Bitcoin and is it really a crypto winter?
Cryptocurrency

What is going on with Bitcoin and is it really a crypto winter?

Kostiantyn TsentsuraBy Kostiantyn Tsentsura08.06.2022
When will crypto winter end?
When will crypto winter end?

The last crypto market collapse lasts a month already. Some experts said that this is the actual crypto winter. But when would it end?

The Terra platform collapse shook the crypto market harshly.

It was expected as the LUNA token and UST stablecoin just vanished with billions of investors’ money.

Anyway, the Terra event has only triggered the biggest May 2022 crypto crash. But the real reasons behind it are the credit stakes, raised by US Federal Reserve, the world financial crisis, and others roots that affected the high-risk assets.

More about real Bitcoin volatility causes you can find here.

Some experts have already dubbed this situation as crypto winter which means the prolonged bearish tendency.

But if so – should wait for soon Bitcoin recovery or another detrimental month?

Bitcoin price waves as crypto winter emerges

From May 5 till May 12 BTC lost almost $14 000 in value and the coin touched its bottom at $26 700.

The token price then recovered and held above $30 000 through the month. On May 31 the token even exceeded the $32 000 mark. But now we can see another slight price drop again as at the time of writing BTC trades at $29 900.

“Bitcoin investors have reason to be cheerful after the cryptocurrency has snapped the longest weekly downtrend in its history,” the chief executive of financial advisory group deVere Nigel Green said.

According to him, anytime soon we will soon see a bull run. This run would lead to a significant bounce in the fourth quarter of the year for the Bitcoin, the expert noted.

As investors will again move into riskier assets, Bitcoin should benefit from a stock market rally.

The other main reason for the crypto market volatility is governmental regulations. And on June 7 tht U.S. Senators Cynthia Lummis and Kirsten Gillibrand introduced the long-awaited crypto bill.

Their bill would liberate small-scale purchases of goods and services, making it tax-free for all transactions less than $200. This move could potentially lead to wide cryptocurrency adoption in the US.

Nigel Green believes such bills can give more protection and, therefore more confidence, to both retail and institutional crypto investors.

What is with Ethereum?

Another mega-popular and mostly stable token could face more problems than Bitcoin.

As Ethereum’s long-awaited Merge upgrade is set for August, the community is kind of afraid of the coming ETH proof-of-stake transition.

The upgrade should solve some of the most essential Ether problems. The Merge should pave the way to Ethereum scalability, but no one knows how it could end.

“Ethereum is in trouble and we don’t see a quick way outю The entire idea of staking Ethereum was nonsense from the start, as we pointed out months before the first anticipated launch date for Merge last year,” says Martin Hiesboeck, head of blockchain and crypto research at trading platform Uphold.

He assured that the growing number of decentralized finance hacks that are happening on the Ethereum network is the main concern for current ETH investors.

On the other hand, a successful Ethereum upgrade will bring renewed faith in the future of Web3, spearheaded by the Vitalik Buterin platform.

Cryptolife’s take

The crypto market experienced a no end of ups and downs last years.

Dark times are dark for everybody, and Bitcoin with Ethereum is no exception.

So we can say for sure that if humanity will survive this year – the crypto also will.

But it is always only up to you, whether is an appropriate moment to get in right now.

Sources: Forbes, Coindesk

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Kostiantyn Tsentsura
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Staff writer at cryptolife.report. Kostiantyn is a Ukrainian journalist who has been covering the science-tech industry for five years. Started his career by writing articles about crypto-mining in Ukraine. Has his own experience in trading some coins. Convinced blockchain adept who thinks that crypto community will save the future of the world economy.


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