Bear markets frequently lead to investors showing extreme fear in tools that appraise the market’s sentiments. However, regardless of the uncertainties throughout a crypto winter, some prefer to pay attention to the possibilities that it may bring.
Alex Tapscott, md at Ninepoint Digital Asset Group, told Cointelegraph the bear market is really a time to pay attention to building. Tapscott highlighted that it is necessary to look past the market’s prices and find out the principles which are being laid. Tapscott described that:
“Crypto winters will always be the optimum time to drill lower on these core concepts, perform the work and make for future years. The final bear market introduced us the NFT revolution, decentralized finance, stablecoins and play-to-earn gaming.”
Based on the executive, the present bear market may also prepare the research for realizing Web3’s full potential. For example, Tapscott stated that decentralized finance (DeFi) can grow further and continue its trajectory because the economic climate from the new internet. He stated that:
“If Bitcoin was the spark for that financial services revolution, then DeFi may be the accelerant. The fireplace distributing will engulf many businesses that neglect to innovate, change and embrace this hot new industry.”
The manager also noted that individuals need to look for developments in decentralized autonomous organizations (DAO). Tapscott stated that DAOs will supplement corporations because the way of organizing sources.
Related: Crypto winter survival guide: Community shares strategy for that bear market
Throughout the current bear market, Tapscott pointed out that crypto-assets lost around $2 trillion in value, spurring mainstream media outlets to create obituaries for Bitcoin (BTC). However, the crypto veteran encouraged investors to maintain their composure and discover possibilities, as bear markets frequently result in great ideas being created and new companies being built. He stated that:
“The most effective individuals crypto are individuals who are able to keep calm and bear on. I do not know if this bear market will finish, however i am highly certain that like several others, it’ll finish.”
The manager also highlighted the volitile manner of crypto prices is harrowing if investors consider the short-term time period. However, Tapscott also stated the discomfort might finish as investors appear to possess cooled lower.
