Cyclical turnarounds, that’s how the crypto bear market has been! But despite the FUD, in an interview with a bunch of crypto traders, the real perception of the bear market was unveiled. Here’s the excerpts;
What do Crypto Investors Think About the Bear Market?
The market has always been this volatile and all those who rode the upside must embrace the downfall as well. One of the traders named Mark said, when BTC was trading at $35,000, I FOMO-ed and bought it! Soon, the market skyrocketed, registering one ATH after another. I kept buying to not miss the upside. However, it has fallen to its extreme and I am still buying. The reason is trusting technology. Bitcoin and other cryptocurrencies won’t die down soon. He said, “ I remember keeping my money in the savings accounts. Though it never fell abruptly but didn’t generate unprecedented returns either. With Bitcoin, it is completely different! The returns are unprecedented and they do offset the losses.
What do you all think about the regulatory clarity?
We aren’t that much sure on the regulatory clarity but judging by the tech, investments won’t go down the drain. Back in the past, cyclical movements were apparent in crypto. But back then, there wasn’t much adoption due to limited crypto traders. At present, we have seen countries and institutions going flat for cryptocurrencies. A lot of pension funds have moved to crypto, billionaires like Mark Cuban, Jack Dorsey, Elon Musk , Cathie Woods and Micheal Saylor have invested in lump sum. On top of this, there’s a heavy influx of wallets created in 2021. All of these factors combined make up for the perfect dominance of the crypto market going forward.
Do you all think taxes will have a negative impact on crypto?
As long as they are rational, it won’t have any impact on crypto at a concerning level. The market has generated 3x to 4x returns and if taxes are collected, it won’t offset investor sentiments we sincerely think that way.