Deepak Chopra: Crypto is in crisis, but investors need to focus on the long term

It was a tough time for the crypto market and for cryptocurrency investors to control their emotions.

The sector’s fall in market value was driven by terraUSD, one of the most popular US dollar-peg stable currencies, which spread overnight. But Bitcoin and Ethereum have also seen significant declines in recent bull markets.

Deepak Chopra says investors can not ignore the recent collapse of the crypto market, but they should be able to see beyond that.

“The crypto world is in crisis, trillions of dollars have been lost. We are in the bear market,” Chopra recently told CNBC on Gary Vaynerchuk’s “VeeCon” in Minneapolis.

“Now is the time to think long and hard in these financial markets, including crypto. Emergence: I think a lot of people are hanging on to creativity, praising each other’s strengths and having a spiritual and emotional environment. You can help each other and that is happening in the crypto community right now.” That’s it, “Chopra said.

Deepak Chopra, co-founder of Chopra Safety Center and founder of Chopra Foundation

Adam Jeffrey | CNBC

It is unclear whether the recent attack signals a “winter of winter” – a cyclic-based bear market for the crypto asset segment – although a drop in crypto-currency trading is one of the signs that we are moving in that direction. Last summer, crypto-currencies from 2018 to the end of 2020 fell due to the fall in the value of cryptocurrencies and the high layoffs.

There are over 19,000 secret currencies and dozens of blockchain platforms, the basic technology for which secret currencies are built. Not everyone will survive, and some crypto industry leaders are waiting for the “creative breakdown” that will destroy many players.

Mark Cuban, a major investor in blockchain-based technologies, recently compared the crypto crisis to the “stability of the Internet” during the dotcom bubble. He tweeted that there were too many imitators there. Cuba tweeted: “We do not need NFTs or DeFi on each chain.”

Earlier this year, the Chopra Foundation partnered with the crypto crowdfunding platform EarthFund to launch a collection of NFT tokens to help people achieve mental and emotional health. Pretend holders will be able to “collect treasures and receive rewards that will enable them as a community to decide which mental health projects will raise the money needed to make a difference,” he said in a March statement.

Chopra Foundation is part of the Hollywood Walk of Fame starring Emilia Clark, a UNFT team dedicated to providing better treatment for stroke and trauma patients in November 2021.

“We are using artificial intelligence to talk to people with a mental illness and if they need counseling we have a token with EarthFund to democratize security around the world,” Chopra said. “This is the future. We want to create global communities where people can support, support, and support each other.”

NFTs are digital assets created using blockchain technology to track the ownership of virtual goods. Earlier this week, US prosecutors announced that they were prosecuting the digital assets for the first time.

“I hope people don’t get into the melody drama [of NFTs]Because markets reflect the ever-changing human mind. One day it has risen, one day it has fallen, we have some news and bull market, the next day we have bad news and bear market, ”said Chopra.

“Ultimately, history shows that we, the creative people, are going to grow economically, but we need to hang out there and support each other. Now is the time for cooperation, not competition,” he said.

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