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 has not recovered the levels reached during the 2017 bull rally. Tyler Winklevoss already declares in the Tweet Today that Bitcoin’s crypto winter is over:
It’s hard to imagine the impact that the onset of crypto winter had on the crypto 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. To 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 setting 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. On the contrary, it was during the crypto winter that the foundations were laid for what is today a strong infrastructure of Bitcoin-related products and services. With companies like Binance, Ripple and Coinbase representing the forefront that has led to the end of winter:
“The crypto winter has been long and harsh, but the crypto summer has finally arrived. It will more than make up for those cold and lonely days when darkness sometimes felt 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.