The recent crypto crash was a bad time for those hoping to benefit from digital currencies. With many losing thousands, the crash led to a large percentage of crypto supporters posting suicidal thoughts online. On the other hand, popular celebrity Snoop Dogg feels that the recent crypto crash has weeded out those who might have been abusing these opportunities.
Survival of the crypto-est
During an exclusive interview with CNBC during an NFT.NYC conference, Snoop Dogg says that the recent crypto winter will remove people who weren’t meant to be in the crypto space, to begin with. Snoop is also confident that things will pick up for crypto after this draught and that people should be patient with their investments.
“This [crypto winter] weeded out all the people who weren’t supposed to be in the space and who were abusing the opportunities that were there,” he says. “Now it’s going to bring on great business, and moving forward, when the market comes back, there will only be great things to pick and choose from.”
While a product’s decrease in value is never a good thing, Snoop Dogg feels that every industry has gone through this drop and recovered. The rapper is confident that crypto will rise again and continue to flourish.
“I feel like every great industry has a downfall. There’s been a depression in every industry you can look at, alcohol, tobacco, clothing, food; every industry you can imagine,” Snoop explained.
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Crypto has made people depressed
Due to the nature of crypto and the people who invest in it, most of us tend to look down on them. However, the recent crypto crash has caused some of them to post about their suicidal thoughts. In fact, one Reddit forum is packed with suicidal thoughts from people who invested their money in crypto.
Even though crypto hasn’t always brought out the best in people, we hope that this doesn’t end with some people ending their lives. There’s always more to look forward to and if Snoop Dogg is right, they might even come out of this better if the crypto stocks rise again.