‘Builders rejoice’: Experts on why bear markets are good for Bitcoin
— Bear, Market, Rejoice, Industry, Previous, Good, Winters, Experts, Tětek, Markets, Crypto, Builders, Bitcoin — 1 min read
Bitcoin and the overall cryptocurrency market have been experiencing one of the most critical moments since 2018, wiping more than $1 trillion in market value since early 2022. The current crisis has triggered a wave of panic in the community, with Bitcoin miners’ selling activity surging to seven-month highs as mining profitability has dropped to October 2020 levels. People in the industry continue to reiterate that bear markets are actually good for Bitcoin and healthy for the crypto industry, as they remove speculators and scams while providing space to build real and great products and services. Bitcoin Suisse CEO Dirk Klee said the industry needs to go through crypto winters in order to grow and mature. Source