- Former Coinbase (NASDAQ:COIN) board member shares his insights on the present crypto market.
- He predicts crypto to fall even lower in 2023.
- Crypto winter looks stagnant as prices plummet once again today.
Tom Loverro, a former Coinbase Board member, shares his thoughts on the crypto winter. He wrote his predictions in the form of a long Twitter (NYSE:TWTR) thread. He stated that crypto winter is here and shared some tips on how to survive it, as he has lived through these crypto cycles since 2013.
In 2022, crypto will go even lower. 2023 will be mostly flat to down, until indifference sets in, signaling a long-awaited spring thaw (explained below). Crypto macro will improve in the 2nd half of 2023. My reasoning: /2— Tom Loverro (@tomloverro) June 28, 2022
To Loverro, it appears that crypto will fall even lower in 2022. He predicts that the crypto market will be mostly flat to down in 2023, with no growth. The only thing that can change this is the apathy that will set in and reveal the impending spring thaw.
Loverro stated that the 2020 bear market was a black swan that was triggered largely due to the pandemic. He states that the current bear market is not similar to the 2020 one and is the result of skyrocketing interest rates.
So these investors will suffer until rates stabilize.
According to Loverro, it took approximately 12 months for the crypto market to go from its peak to the floor. He also believes that history will repeat itself and that we can expect the same cycle this time round as well.
Loverro goes on to add: “The bottom will come not during this current fear & loathing phase but later, after indifference sets in, crypto is no longer making headlines, and the tourists have left. That process will take many months.”
Retail investors looking for novelty and enthusiasm continue to drive the cryptocurrency price movement, says Tom. He believes that the crypto winter is the best time for innovation and taking market share.
Loverro advises investors to have cash to get through the next 30–36 months and to keep faith in crypto as he believes the market will come back stronger.