Bitcoin and the broader crypto market have faced many declarations of death during bear markets, but experts say it would take a truly extreme set of events for it to truly die. According to 99Bitcoins, Bitcoin has been declared dead 474 times since 2010. However, experts believe that it would take more than a bear market or crypto winter to end BTC and the broader crypto market.
Tomasz Wojewoda, head of Business development at BNB Chain, is confident that it would take something extreme for BTC and the crypto market to die, such as the underlying community losing interest and everyone exiting the space at once. However, he doesn’t see this happening anytime soon. He believes there is always going to be demand for crypto and that the market will recover from the current bear market, just like it has done in the past.
Despite the recent downtrend, Wojewoda believes that challenging times like these can actually be positive for the industry and that market crashes can help weed out bad actors. He also sees it as a time when strong projects focus on building and improving the user experience.
Regulation is another factor that could impact the future of crypto, but Wojewoda thinks some form of regulation can ultimately be a good thing for the industry and will not be the reason it dies. He believes that global regulations can impact the growth of crypto, but with more countries embracing crypto worldwide, it won’t be a reason for crypto to ‘die off.’
Wojewoda is convinced that the crypto market will reach the other side of this crypto winter and beyond. He thinks it will likely survive as a concept, but not all projects and currencies will make it long term.
Markus Thielen, head of research and strategy for digital asset investment firm Matrixport, is also skeptical that a bear market or crypto winter poses a genuine threat to the crypto market and BTC. He believes that as long as there is value being sent around electronically, crypto has a value proposition that is difficult to match with the traditional banking rails.
Overall, despite the recent challenges, experts are confident that the crypto market and BTC will endure in the long run and bounce back from the current bear market.
Historically, the crypto market has seen huge spikes in value, only to come crashing back down to earth. However, it has always recovered years down the road. This cyclical nature of the market suggests that it will likely survive as a concept, with some projects and currencies not making it long term.
In conclusion, while the current bear market and crypto winter have been particularly harsh, experts remain optimistic about the future of the crypto market and BTC. They believe that the market will bounce back, with BTC still standing strong.
