Expert: Crypto winter has not yet started

Dogecoin co-founder Jackson Palmer does not believe that crypto winter has started. He pointed to the distribution of “mountains of money” by promoters of cryptoassets.

“They are waiting for a new batch of fools to come. It happens cyclically,” the expert said.

According to the entrepreneur, the collective memory is easily erased, for example, people have already forgotten about ICO and NFT scams, and now they are ready to invest in DAO and IGO. At the same time, Palmer expressed regret that the digital asset industry will not burst in the near future.

“More and more people do nothing but earn money without putting in the effort. It kind of ruined our lives. A mental problem arose — things that seemed “strange” five or ten years ago have now become commonplace. Now, even if it’s obviously a scam, people think, ‘Do I really care?’” he explained.

In addition, Palmer once again spoke critically about Elon Musk, calling him a scammer.

“He sells his vision for the future in the hope that one day he will be able to realize what he promises. But Musk doesn’t know that,” said Dogecoin co-founder.

And CoinShares analysts note that the inflow of funds into cryptocurrency products increased by $87 million over the week. A week earlier, investors reduced their own positions by more than $141 million.

On the night of May 31, the price of the main crypto-coin crossed the $32,000 mark for the first time since May 10. According to Coinmarketcap data, bitcoin has risen by more than 3% in the last 24 hours.

The BTC rate continues to grow after falling to $28,000 last week. Since then, the price of the first crypto coin has risen by 12.5%.

According to CoinGecko, the share of bitcoin in the crypto market was 44%. BTC capitalization reached $600 billion with a total market value of $1.36 trillion.

What does this say, do you think?