– In a video released on his YouTube channel on May 11, Hoskinson told viewers that long-time crypto investors were relatively unfazed by the recent price correction.
– Hoskinson noted that the industry had been through similarly severe price corrections in the past, insinuating that market volatility was par for the course.
– Hoskinson argued that newer investors or those who started investing in crypto since the start of the bull run were the ones most likely to panic sell.
– As reported by The Daily Hodl, Hoskinson said, “I’ve been in this space for almost a decade now, and I remember Bitcoin before it was a $1, and then going up to $30, then down to $4, then to $250, then to $80, then to $1,200, then down to $250 again, then up to $20,000, then down to $4,000, then to $64,000.”
– Hoskinson claimed that sentiments towards crypto prices were remarkably similar around the world, arguing that to the old guard, “nothing phases us anymore.”
– Hoskinson did his best to quell the concerns of these investors, giving them a “welcome” to the potential bear market, which he dubbed a crypto winter.
– Hoskinson warned that it could take weeks or months for the crypto markets to find a price bottom, and said that we are in the “panicked, blood in the streets phase.”