After two years, the co-founder of the Gemini exchange, Tyler Winklevoss, has declared that the crypto winter of Bitcoin is over.
Since the end of the bull rally in 2017, a process known within the cryptocurrency community as the “crypto winter” began. A time when the price of Bitcoin stagnated, and with it the activity of developing Blockchain projects. However, and although it still does not recover the levels reached during the bullish rally of 2017. Tyler Winklevoss already declares in today’s Tweet that the crypto winter of Bitcoin is over:
Crypto winter has been long and harsh, but crypto summer is finally here. It will more than make up for those cold, lonely days when darkness felt all encompassing at times.
— Tyler Winklevoss (@tylerwinklevoss) August 5, 2020
It’s hard to imagine the impact the start of crypto winter had within the cryptocurrency community. And it is that, it came to upset the optimism that had dominated Bitcoin users throughout 2017, when the world’s first virtual currency managed to approach $ 20,000 per BTC. And then plummet to around $ 3,000 per month.
This of course had its impact on the rest of the community. Which, used to the constant growth of Bitcoin set the tone for the market. It entered a major depression in its activity, with hardly any news to highlight for several months between the beginning of 2018 and mid-2019.
However, the crypto community wasted no time during this period. Rather, it was during the crypto winter that the foundation was laid for what is today a strong infrastructure of Bitcoin-related products and services. With companies like Binance, Ripple and Coinbase representing the cutting edge that has led to the end of winter:
“The crypto winter has been long and hard, but the crypto summer has finally arrived. It will more than make up for those cold, lonely days when sometimes the darkness felt like it was all-encompassing. ”
In this way, if the words of Winklevoss have any reason, what would be ahead for the crypto community is a true period of boom and development, for Bitcoin and for all cryptocurrencies. Something that we do not doubt is true, considering the solid infrastructure built around crypto assets throughout these years.