BCCN3 attended this year’s Dcentral Miami, one of the biggest web3 events of the year. Keynote speakers and panels consisted of blockchain founders and web3 influencers, as well as leaders from some of the most well-known web3 projects.

We interviewed Wendy O, a crypto content creator and host of one of the most popular crypto YouTube channels, The O Show. 

Wendy is a regular contributor at CoinDesk TV’s show The Hash. Originally from Los Angeles, she got into crypto investing and content creation full-time in 2018. She has an enthusiasm for educating people about blockchain, cryptocurrencies, and NFTs. 

We spoke exclusively with Wendy about her take on the current crypto bear market, NFTs, and the fallout from FTX. 

What is your general take on the downturn both in the crypto market and the NFT market?

“Bitcoin is operating at a four year cycle. Because bitcoin is queen bee, generally altcoins and NFTs will follow suit. So, even though we didn’t necessarily know that we were going to have a crypto contagion, that we were going to see exchanges collapse, etc., we did know that we could potentially expect an 85% correction with bitcoin. 

“When bitcoin corrects, altcoins and NFTs will as well; and because we are still operating at a four year cycle, which, unless we break that, and that totally could happen, but this year is no different, this cycle is no different, we will continue to see NFTs and altcoins drop a little bit more. 

“I do think that bitcoin will essentially bottom out around $10,000; hopefully we get that, I’d love to pick up some cheap bitcoin. But this is something that is expected regardless of the fundamental aspects and [technical analysis] definitely can help predict some of these things to an extent.”

Do you see the fallout of FTX ultimately being a good thing by cleansing out bad actors?

“Unfortunately there’s bad actors in every single industry, it’s not exclusive to crypto and it’s important that we talk about that, especially myself because I’m a content creator… I make media, we talk about the news, but it’s terrible that people lost money. 

“It’s terrible that we’re having all of these issues in crypto because it’s supposed to be very open source…we’re supposed to be able to track everything, it’s supposed to be very transparent. That’s what our industry is supposed to do. But at the same time, with blockchain technology we can spot bad actors a little bit early on. 

“And hopefully the events that have happened with FTX, Alameda, and crypto contagion, will continue to force us to do better about self-custody, better about using critical thinking and essentially show people that we don’t need crypto regulations because a lot of these exchanges were regulated and they still failed. 

“As a friendly reminder, please always consider taking profit, having a bullish or bearish trading scenario and knowing how to custody your coins.”

You can follow Wendy on Twitter @CryptoWendyO. Listen to our interview with Wendy on our podcast, BCCN3 Talk, BCCN3 will be publishing more interviews we conducted with other influencers at Dcentral Miami as well as Web3Summits.