Here's How People Use Crypto Bear Markets to Create GENERATIONAL WEALTH
Vitalik Buterin - the creator of Ethereum - recently talked at EthDenver about how the bear market is for builders.
I can't agree with this sentiment more. I've been saying this throughout the entire bull market that it has been hard to motivate existing devs and find & hire new devs to LeoFinance as we build our Web3 Ecosystem.
I believe that there is a lot of building to do in a bear market and that it is an extremely healthy time for Crypto to consolidate - not in terms of price, but in terms of technology.
Crypto Technology can get quite spread thin during a bull market. People begin to focus entirely on the price of cryptocurrencies rather than the underlying fundamental development of this revolutionary technology.
While price is great and it sucks in capital - which is the vital life force of building - it also can be extremely distracting for developers, users and investors.
In my opinion, the bull market is when we take profits and build a massive treasury. The bear market is where the fundamental buidling takes place. I've taken this approach and migrated massive profits to build a treasury for LeoFinance development to not only continue in the bear market, but actually thrive and be more explosive and expansive than ever before as devs will be hungry and easier to come by than in this bull market.
LeoFinance is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: LeoFinance.io allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.
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It is no new thing to experience the bear market experience inflation and deflation of price because that definitely what we will experience in the world of crypto. The rise and fall also is a win-win in the blockchain so I believe there's a positive reward to benefit but the most important thing is to experience pump in price.
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Market cycles are incredibly healthy for all sorts of industries. I'm excited to see the impacts of crypto cycles play out in real time
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I quite agree with that assertion of the crypto winter or bear market been the best time for building. Developers tend to put really great work during this period as compared to times when the market is all rosy. The bull season help showcase what have been built during the bear season.
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Exactly!
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I can't agree more. While some project seem to be carried away with the wave of the market, project who see beyond the current times get working by developing and expanding. The current price is temporary, the real value of innovative projects gets to be seen when the dust settles
Watch the long-term fundamental developments of a project. That's the true value, not their token price in any given moment
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Definitely this what crypto market is all about we will experience Bear market because of the inflation and deflation in crypto it self which I believe the price will still comes up.
In regards of what Mitch said, regarding to the decoupling of Bitcoin from the stocks market, my take is that it will only happen when we will have Bitcoin involvement at state level. We kind of have that with El Salvador, but it's a small country with little to less influence in the world. When Russia for example will use it to circumvent US sanctions, or when banks will offer more crypto related products or getting into custody... OR when central banks will start stacking it as a reserve currency it's when we will see that great decoupling. Meanwhile, still a high risk asset.
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High risk, high reward asset for the time being. I don't see that changing in the next few years. Beyond that, I see the same thing you do: mass adoption at the country and corporate level globally will change the volatility scales in this industry forever
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Some persons tend to go into hiding during major market crashes but the truth is, massive wealth is amassed by taking advantage of market crashes.
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Wave of market when comes to bear is another experience for both Investors and developers. Actually is not a new things, it a way of speeding Crypto which will eventually experience the rise after the inflation.
Listening and reading dis articles has wide my knowledge more abt crypto as a learner in crypto market.i believe bear market is the best time for Developers to do a great work now compared to times when the market is fluctuating. The bull market help them to explore what they have achieve in the project
Good one and nice information on what is happening as regards how people has made it via Crypto
Aside the bear Market Serving as a source of wealth and livelihoods on it own, Crypto as successfully proven to be a way of serving life and people from poverty and unemployment too
When we evaluate according to the development of Crypto Technology, what you say is correct and appropriate, and I agree with what you say. but from the point of view of investors, the bull market attracts investors to the crypto market and the bear market causes them to flee. That's why a bull market should come for the technologies to be used more. There are pros and cons to the Bearish and Bull market. Both seem to be necessary for the crypto market to develop faster.
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bear markets and dips are very important because it starts to weed out all of the trash and redundant projects. For example we have $32000000000+ worth of memecoins, which are basically worthless, and there are 70+ smart contract chains. That is just too many. A LOT of those need to die and the market needs to pick winners so that we can move forward with further growth. It is much better to have the kids who invest in cartoon dog shitcoins to get rekt so they learn their lesson and stay away, and narrow the number of smart contract platforms down to 3 main chains with 2-4 second tier chains, so that the money is not spread so thin.
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Great nugget here. A bear market is absolutely the best time to build a solid position and put yourself in position to benefit from the next bull market. And, like Vitalik also said, it shakes out the weak hands and people who shouldn't be in in the first place.
Couldn't have said it better, Khal. Exactly this!
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Fantastic time to buy right now. Folks shouldnt be spending ALL of their spare cash capital to buy right now, since the market could possibly dip further with the crazy world conflicts right now, but certainly now is the time to do some amount of buying, I cant believe the prices on some of these coins. I just added another 100 XHV to my portfolio this morning; XHV uses the same algorithmic stablecoin system that the breakout project Terra LUNA does, except XHV also has the first ever private stablecoins, it is incredible: its like stablecoins and Monero had a baby, ha ha. Picked up some of that + some more AVAX to use in the Trader Joe pools, as one of the gives additional bonus rewards in JOE + LUNA, so I can earn LUNA while I earn other coins in the liquidity pool at the same time.
It is the BEAR markets where people get the opportunities to become rich, not the peak of a bull market.
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This is what I've been focused on personally this bull market! I think it's already bearing fruit as you can see in the latest developments on LeoFinance. We've been expanding at unprecedented rates because Devs are easier to find in these times and we now have this massive treasury to pull from to expand our team 🦁🚀
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I think in times as we have, crypto shows its global accessibility. That's IMO the biggest sale point.
Ukrainians cant withdrawl their funds from banks. It's already massively limited.
In a case people have to move fast, they cant transport valuable things fast enough. They also need something like permissionless.
Can you move gold fast? I'm sure it's way easier to get robbed with physical gold in those times.
That's why I think, even if it's sad, crypto now proves value.
I totally agree with this because we get distracted when the market is bullish and pumping, everyone is more focused on the price.