What's Next for the Industry as 'Crypto Winter' Thaws?

For the crypto industry, 2018 was a year of changes due to price corrections - also referred to as the Bitcoin crash and the Great Crypto Crash.

Even if we look beyond price, the crypto winter has had a lasting impact on the cryptocurrency and blockchain space.

A review of past media coverage can help us understand the negative impact of the crypto winter for the industry.

"The Crypto Winter in my view actually had quite a positive effect on the progress and development of our global blockchain ecosystem," Daniel Diemers, PwC's leader for blockchain in Europe and the Middle East, told Cointelegraph.

The data shows that the ICO market correlates directly with the Bitcoin price and that the crypto winter successfully washed the scammers out from the scene.

Another point lies in the distinction between cryptocurrency and blockchain technology: The crypto winter will not affect the potential use of blockchain technology and the growth of businesses related to it.

The Intercontinental Exchange also took advantage of the crypto winter to purchase crypto assets at a discount for its institutional cryptocurrency trading platform, Bakkt.

"Though liquid crypto prices have fallen sharply of late, investment activity in the space is booming. Investors interested in the industry need to spend a considerable amount of time learning about the space, getting comfortable with its very high risks, performing manager due diligence, and carefully implementing allocations."

Tom Lee, co-founder of Fundstrat Global Advisors, was among the experts to have confirmed that the crypto winter is over.

The crypto winter was a painful process for the industry.