- Every previous bear market “declared” the death of cryptocurrencies.
- Everyone is really simply there to watch their stock portfolio soar to dizzying heights.
- Goldman Sachs has already started trading Bitcoin.
According to a Reddit thread, the cryptocurrency was “proclaimed” dead in each and every prior bear market. We only saw so many adoptions and collaborations develop during this Bear Market, which is currently a recession (or at least it feels like one).
The bear market has already seen several significant partnerships and adoptions from well-known brands, businesses, governments, and financial institutions only this year.
There is no denying that broad adoption has a cost, and despite your best efforts to portray yourselves as true Defi guerillas, everyone is really simply there to watch their stock portfolio soar to dizzying heights.
The Nasdaq-100 has tumbled 30% from its record high in November, while the S&P 500 has lost more than 20% of its value from its peak in January. Since it was on the verge of reaching $70,000 per token seven months ago, Bitcoin has lost two-thirds of its value.
Even a cautious investor who has a sensible allocation of 60% in equities and 40% in bonds has lost around 17% so far this year. Additionally, according to reports, investors have lost money on US government bonds in 2022, despite being for a long time regarded as the safest harbor.
According to the Reddit post, there are more than 30 reasons why this bear market is different from the others and why we might experience a massive bull run within the next couple of years.
Some of the reasons mentioned are the Fidelity investments, a financial investment that will offer Bitcoin and other cryptocurrency services. Goldman Sachs has already started trading Bitcoin while GameSpot accepts BTC and Doge. This is a great move towards the predicted bullish run and cryptocurrency adoption.
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