Joe Weisenthal, one of the hosts of Bloomberg’s Odd Lots program, suggested in a press release that the current period could be “the harshest crypto winter in history.” According to Weisentha
Joe Weisenthal, one of the hosts of Bloomberg’s Odd Lots program, suggested in a press release that the current period could be “the harshest crypto winter in history.”
According to Weisenthal, the cryptocurrency market is facing many negative trends simultaneously, unlike in past cycles.
Weisenthal noted that investors can no longer argue as strongly as before that “it’s too early,” stating that the significant institutional adoption and substantial maturity of the regulatory environment have reduced potential future catalysts. He also argued that the AI sector is attracting both investor interest and energy resources, creating additional pressure, particularly for Bitcoin mining.
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Weisenthal, who also drew attention to the risks that quantum computers could pose to Bitcoin’s long-term security, said that digital asset companies that previously accumulated Bitcoin aggressively, such as Michael Saylor’s company Strategy, are now starting to become sellers rather than buyers. Strategy’s recent sale of 32 Bitcoins after a four-year hiatus was cited as an example of this view.
*This is not investment advice.
Continue Reading: A Bloomberg Anchor Summed Up the Situation: “We’re in the Harshest Crypto Winter in History”
