Cardano founder Charles Hoskinson has tried to explain to crypto newcomers that market corrections are common and there is no reason to panic over the market crash.
In a video posted on his personal YouTube channel, Charles Hoskinson, Co-Founder and CEO of IO Global (IOHK), the company responsible for research and development of Cardano, has explained to newcomers to the crypto market that market corrections are common.
Hoskinson explained that there have been other similar falls in the past and that Extreme volatility is a common trend in the cryptocurrency market. In this regard, he advises all those who entered the market during the last rally not to panic and not to sell en masse without thinking.
“I’ve been watching this dynamic for a decade. I remember when Bitcoin was worth $1, then it went up to $30 and fell back to $4, then it went up to $250, then to $80, then to $1.200, then to $250 again, then to $20.000, then to $4.000 and then to $64.000,” explains Charles Hoskinson.
On the current market situation, the founder of Cardano believes that it is the newer users who have caused the doom-laden sentiment, while the veterans are unfazed, as They are used to these corrections and they know that, although we are facing a bear market, it will pass as happened with the previous ones and that we are by no means facing the end of cryptocurrencies.
It may interest you: The founder of Cardano assures that we are facing a “Bear Market”
He also warned that cryptocurrency markets could take months or weeks to reach the bottom of pricesHoskinson points out that we are in a difficult phase, but that it will pass and there will be a very long ascent.
Cardano's Vasil upgrade is almost here
On the other hand, Hoskinson has also pointed out that the Hard Fork Vasil is already scheduled on the calendar for the next June 29In this sense, Cardano developers believe that the update could be ready to be launched on the testnet by the end of May, so that testing can begin.
The IOHK developers are very optimistic about Vasil as they believe that this update could greatly improve Cardano's performance and in its functionalities for smart contracts.
The update will introduce four different CIPs: CIP-31 (Reference Inputs), CIP-32 (Online Data), CIP-33 (Reference Scripts) and CIP-40 (Collateral Outputs).
