Bear Markets Good for Bitcoin?
Weak hands get washed-out, trash scammers and huxsters in the form of “project founders” disappear – what says you, are bear markets good for Bitcoin?
‘Builders rejoice’: Experts on why bear markets are good for Bitcoin
“Bitcoin (BTC) and the overall cryptocurrency market have been experiencing one of its most critical moments since 2018, wiping more than $1 trillion in market value since early 2022.
‘Bear markets are good for Bitcoin. Builders face less distractions and the fake “project founders” that were only looking for a quick VC funding and a naive retail exit liquidity disappear as quickly as they previously appeared. Real builders rejoice when all the bullshit gets washed out.’
The crypto market needs to go through crypto winters in order to grow and mature, Bitcoin Suisse CEO Dirk Klee told Cointelegraph. According to the executive, quality, stability and security of crypto services and products become even more important during uncertain market conditions. He said:
‘Ultimately, that is what the industry needs in order to mature further, and we aim to live up to those standards every single day.’”