Charles Hoskinson, the Co-Founder, and CEO of IO Global, the company in charge of Cardano’s research and development, attempts to assuage fears of a crypto market crash by claiming that extensive corrections are common in the industry. Long-term crypto investors mainly were undisturbed by the latest price correction, according to a video Hoskinson posted on his YouTube channel on May 11. Hoskinson pointed out that the industry had previously experienced substantial price corrections, implying that market volatility was average. Newer investors or those who began investing in crypto after the start of the bull run, according to Hoskinson, are more prone to panic sell. 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 noted that attitudes on crypto pricing were very similar worldwide, claiming that ” nothing phases us anymore” among the old guard. Hoskinson suggested that it was newer investors who were overly pessimistic about the situation, claiming that the recent price decrease meant “the death of crypto.” Hoskinson tried to assuage these ‘investors’ fears by wishing them a “welcome” to the looming bear market, nicknamed “crypto winter.” It will trade under the ticker GFOF on the London St...
