According to Bitwise CEO Hunter Horsley, the bear market in Bitcoin (BTC) should not be feared but rather welcomed.
The chief executive told Bloomberg that current events should be a chance for investors who aren’t familiar with Bitcoin to start investing and expand their reach in this sector.
Horsley is certain that this is a part of the cryptocurrency’s four-year cycles, as he puts it.
He stated in the interview that the market fell by 60% in 2014, but added that the business was negatively impacted by a further 70% in 2018. However, the market capitalisation as a whole has been continuously rising.
Another downward trend was observed in 2022, when the market fell by 60%. That’s great since the market capitalization keeps increasing year after year.
Horsley contended that a new cycle is starting in 2023 and it will be beneficial for both new and experienced investors.
“So, a bear market is undoubtedly the main theme of this year. Nevertheless, our clientele’s interest has grown, he continued.
His suggestion is well supported by conventional finance, where investors seek to increase their exposure to specific assets during bear markets.
This demonstrates a firm belief that a certain asset will develop and make a profit in the future, which is exactly what Horsley currently proposes.
Even naysayers have been steadfastly adopting BTC. According to Google, cryptocurrency payments will be accepted for its crypto payments.
All of this implies that businesses, investors, and regulators are banding together despite market shocks because they recognize the potential of BTC and other cryptocurrency options.