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NewsBTC 2022-09-02 13:25:24

Why Vitalik Buterin Expected Crypto Crash To Happen Earlier, ETH Price Battles With $1,600

The inventor of Ethereum, Vitalik Buterin, gave an interview talking about the current state of the crypto market, its dynamics, and the impact of the crypto winter on developers. The second crypto by market cap has displayed a week with low volatility as it prepares to complete its migration to a Proof-of-Stake consensus with “The Merge”. Related Reading: Bear Market Who? Data Shows High Conviction In BTC And ETH At the time of writing, Ethereum (ETH) trades at $1,610 and records a 3% profit in the last 24 hours and a 5% loss over the past week. Large cryptocurrencies have been moving sideways and might continue to see low volatility over the weekend. Vitalik Buterin sat down with Noah Smith and addressed the current downside pressure in the crypto market. The inventor of Ethereum has been in the space for over a decade, almost as long as it has existed, and is familiar with its constant ups and down. In that sense, Vitalik Buterin said that the crypto market crash was not a surprise. In the past, the price of larger cryptocurrencies trended upwards for “around 6 to 9 months” before crashing, according to Buterin. This time the bull run extended for one and a half years, beating expectations and surprising everyone familiar with the crypto market dynamics. Unlike new participants, attracted by rising prices and profits, Buterin claims he was sure the “bull market will end”, but was unsure when. He added: When the prices are r...

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