Ethereum co-founder Vitalik Buterin believes that during the bear market, the cryptocurrency community should focus on technology and the application system, and not on the prices of cryptocurrencies.
In his opinion, it is necessary to improve knowledge in technical aspects, attend specialized conferences, listen to developers’ webinars and memorize the numbers of proposals for improving the network (IEP).
In February, Buterin said that to some extent, the creators of cryptocurrencies should welcome a new bear market.
The logic is this: the rising prices of cryptocurrencies attract huge attention, greed, and unbridled speculation begin to rule. As soon as prices fall, speculators leave the market, and difficult times come for developers.
Objective difficulties force teams to think through their ideas and projects to the smallest detail, which is why a lot of unique initiatives usually appear during a bear market.
At the same time, as Buterin explained, unstable crypto projects, as a rule, disappear, that is, quantity turns into quality.
There is some common sense in these words, however, after the grand collapse of the FTX exchange, it is unlikely that we will see an abundance of new interesting projects, since investments in them will be even more cautious.