Here’s Why the Bear Market Is “Officially” Over: Crypto VC Founder

Crypto Market Plummets: Over $283M Liquidated in Sharp Downturn
  1. DeFiance Capital Founder Arthur Cheong believes the crypto bear market may have officially ended.
  2. Cheong outlined six reasons, including institutional acceptance of crypto grows further.
  3. In addition, most short-term traders have left the crypto market, so those with long positions remain.

According to Arthur Cheong, Founder of DeFiance Capital, the long-awaited end of the 2022-2023 bear market officially arrived on July 14, 2023. Cheong outlined six key reasons supporting this claim.

Read CRYPTONEWSLAND on Google News google news

Firstly, the worst of macro tightening measures has passed, with the Consumer Price Index (CPI) falling and real interest rates now turning positive. This suggests a higher likelihood of rate cuts in the coming year rather than further tightening.

Secondly, institutional acceptance of cryptocurrencies as an asset class continues to grow, highlighted by Blackrock’s application for a Bitcoin exchange-traded fund (ETF).

Thirdly, the chances of the US Securities and Exchange Commission (SEC) labeling all tokens as securities have substantially weakened, especially considering their recent struggles in winning a case against a token that is most likely to be classified as a security.

Fourthly, most short-term traders have exited the market, leaving behind those who are more likely to hold their positions. The exception may be coins with predetermined unlock schedules.

Fifthly, there is a significant underallocation in the market when it comes to non-Bitcoin (BTC) and non-Ethereum (ETH) cryptocurrencies. This suggests that there is still ample room for these assets to catch up in terms of market share.

Lastly, the welcoming stance of Hong Kong towards cryptocurrencies is a genuine development, and it has the potential to open the floodgates for Asian financial institutions to enter the crypto space through legitimate channels.

These factors, as outlined by Cheong, contribute to the optimism surrounding the end of the bear market and pave the way for a potentially brighter future for the cryptocurrency market.

Read Also :

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.


related posts