This Crypto Winter Will Be Long, Cold and Harsh

(Bloomberg Opinion) --Bitcoin and other cryptocurrency assets are notoriously volatile, routinely suffering large drops of 50% or more. This doesn't seem to bother the diehard believers in crypto too much, who have become used to declines of this magnitude. They simply use the declines to buy more. Even so, there are still a lot of people in the space who remember "crypto winter," the period between early 2018 and mid-2020 when prices went down and stayed down, and much of the innovation in crypto came to a halt.