The cryptocurrency market has been in a bearish trend for the past few months, but experts remain optimistic about the long-term performance.
The CEO of BlockFi has revealed in a recent interview that cryptocurrency investors should think long-term when dealing with the market. He was asked about his thoughts on the current market winter. Zac Prince said;
"Crypto markets are not for the faint of heart. Yes, it can be volatile — especially if you're following the markets 24/7. If you zoom out though and look at the year-over-year performance, you'll see that from the end of 2020 to the end of 2021, bitcoin alone is up nearly 60%."
He added that per his philosophy, investors should do their homework and think long-term. Prince added that;
"Research the crypto assets that you're interested in investing in, and make sure you believe in the fundamental values of those blockchains and their runway for success over time. When thinking long-term, most people aren't traders, so I generally recommend that folks buy things that they are comfortable holding for at least a few years."
Prince is optimistic that the cryptocurrency market will perform excellently in 2022. He pointed out that digital assets are some of the best-performing assets in the last decade, and the rate of mainstream consumer adoption is already astronomical.
The BlockFi CEO said he expects Bitcoin and Ethereum to outperform the traditional assets classes over the next twelve months. He added that;
"I also expect the trend we are already seeing with a great performance from the better, faster, cheaper alternatives to Ethereum to continue — Solana, Luna, and Avalanche are names to look at."
Bitcoin and Ether are down by more than 30% from the all-time highs they attained in November. Over the past two months, the cryptocurrency market cap has dropped by $1 trillion. However, market experts are still optimistic that Bitcoin, Ether and the other leading coins will rally higher this year.