Ari Paul, founder of blockchain investment firm Blocktower Capital, weighed in on the bear market by comparing the situation to the tech crash in 2000. Paul compares Bitcoin (BTC) to Amazon, which is one of the companies that survived the crisis. market collapse.

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On twitter, Pavel noted that while there are “humble” products on the crypto market, a lot of improvements need to be made to reach the mainstream. Paul also claims that the adoption is “5 years behind” what many had hoped for.

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The CEO also highlighted the Solana (SOL) network outages, Ethereum (ETH) scaling delays and Bitcoin security, and future upgrades ignored during a bull market but “feels very different” during a bear market, arguing that there is no optimism. more in this situation.

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After that, Paul compared today’s cryptocurrency market to the Nasdaq market in 2000, stating that most cryptocurrencies are risky and at an early stage. However, the founder of Blocktower emphasized that something like Amazon would survive the collapse. He thinks it could be bitcoin.

According to Paul, bitcoin has a “much better chance” than other cryptocurrencies because it has no competitors both in terms of product and in terms of its technology. He tweeted that:

Despite being bearish, Paul clarified that he is now “more optimistic” about the cryptocurrency than he was almost a year ago. He just wants to warn people to be careful what they buy during the current downturn in the market.

bottom inside? Raul Pal, Scaramucci gain weight, Novogratz and Hayes weigh in

The effects of the bear market have had a huge impact on the livelihoods of a number of crypto industry workers. Cryptocurrency exchange Coinbase recently announced that it will lay off 18% of its employees due to declining revenue and a bear market.

Meanwhile, some community members have shared thoughts and plans for traders on what to do to get through the crypto winter. From figuring out their risk tolerance and averaging dollar costs to finding new projects with potential, community members are trying to encourage others to keep moving forward despite the cold crypto winter.