Ethereum co-founder Vitalik Buterin was confident that the previous cryptocurrency bull market would end sooner or later. He stated this in an interview with blogger Noah Smith.

My interview with Vitalik Buterin is out!https://t.co/bXRzI0DASf

— Noah Smith 🐇🇺🇦 (@Noahpinion) September 2, 2022

“I was actually surprised that the crash didn’t happen sooner. Typically, crypto bubbles last about 6-9 months after the previous peak is overcome. A rapid decline followed quite quickly. This time the bull market lasted for almost a year and a half,” Buterin said.

According to him, this is a reflection of the “cyclical dynamics” that exist in cryptocurrencies.

“When prices go up, many say it’s a new paradigm and the future, and when prices go down, people start arguing: It’s inevitable and they’re fundamentally wrong,” he said.

Periodic price drops help “good find” industry problems and unsustainable business models. Buterin noted that the latter was successful during a boom in the market due to the influx of new money, but his models stopped working during the recession. He cited the recent collapse of the Terra project and the BitConnect investment scam, which collapsed in 2017, as an example.

Buterin acknowledged that phases of decline have had a negative impact on the design and development of protocols, as expanding teams are difficult to support financially.

“But I don’t claim [изобретение] it cures this dynamic,” he concluded.

Recall that Raullen Chai, co-founder and CEO of the IoTeX platform, expressed the view that strong crypto projects will survive and recover in the bear market at the beginning of 2022.

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