Crypto Winter Presents Opportunity Amid Chaos, Says Asset Group Director

Alex Tapscott told Cointelegraph that bear markets lead to the formation of good ideas and the creation of new businesses.

Bear markets often result in extreme investor fear of tools that measure market sentiment. However, despite the uncertainties during a crypto winter, some prefer to focus on the opportunities it may bring.

Alex Tapscott, managing director of Ninepoint Digital Asset Group, told Cointelegraph that the bear market is a time to focus on construction. Tapscott stressed that it is essential to look beyond market prices and see the foundations that are being laid. Tapscott explained that:

“Crypto winters are always the best time to dive deeper into those core concepts, do the work, and build for the future. The latest bear market has brought us the NFT revolution, decentralized finance, stablecoins, and gaming. chance."

According to the executive, the current bear market will also set the stage for realizing the full potential of Web3. As an example, Tapscott said decentralized finance (DeFi) can grow further and continue its trajectory as the financial system of the new internet. He said that:

“If Bitcoin was the spark of the financial services revolution, then DeFi is its accelerator. The spread of fire will engulf many businesses that fail to innovate, adapt and embrace this new hot industry."

The executive also noted that people should seek developments in Decentralized Autonomous Organizations (DAOs). Tapscott said DAOs will complement corporations as a method of organizing resources.

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During the current bear market, Tapscott mentioned that crypto-assets lost around $2 trillion in value, spurri...