- The market has been bearish since spring 2022 followed by the bullish trend in the crypto market.
- Dorian Vincileoni, KuCoin Executive in the Proof-Of-Talk Conference, 2023 revealed how crucial the bearish market can be.
KuCoin Executive Dorian Vincileoni while in an interview with a local media outlet said that since the spring of 2022, the crypto market has been bearish and since then a space for investors to be heard. It has passed a booming bull market trend before this dropping down market where the buyers and developers were stacking into the Web3 space in the metaverse.
The belief of investors and stock and coin prices including the market sentiments are big contributors to see the movement in the crypto market. Even though the market in its downer showed the quantum needed for the companies in the crypto market.
A crypto-analytical institution Nansen, brought out two reasons possibly being the reasons for the market layoffs. An overly hiring snap during the bull market was the first and the longing bear crypto market that followed it became the second.
Nansen’s Analysis in Reference to Lay-Offs
CEO of Nansen, Alex Svanevik on May 30 revealed on Twitter that “the company made a highly difficult call to minimise the strength of the Nansen team.”
https://twitter.com/ASvanevik/status/1663565124970610688
The large-scale layoffs including the major entities of the crypto industry have been a high-effect scenario. In January, Coinbase laid off 950 of its employees accounting for a cut down of around 20%. It was called out to be a step to reduce operating costs by approximately 25% in between the ongoing crypto winter.
In a conference of Proof of Talk 2023, blockchain Vincileoni discussed how companies can optimally use the bear market with users’ main focus. The slowing down interest of companies requires adjustment to the current market conditions, including many in the space who view this as a time to mature the industry.
https://twitter.com/proofoftalk/status/1670695703469801472
This bearish trend in the crypto markets has provided investing individuals and companies time to grow, develop and invent products and services that give away more efficiency and accuracy to the users. According to him “The bull markets are much noisier than bearish markets.”
The attitude or belief in relation to the stock market is the determining factor of a bullish or a bearish market. Bullish is when the belief of an investor towards the price is about a price rise and when investors act with a belief of a downfall in price, the market will see a bearish trend. It becomes hard to hear community needs in a bullish market.
Vinvileoni finds it to be the crucial time for abandoning the negatives and targeting the achievement in a positive market. Investors need to avoid getting “dragged into the spiral of negative news.”
KuCoin’s Approach Towards the Trends
KuCoin is not the only exchange implying the adoption of the approach of “adaptive race”. Whatever may be the bearish or the bullish trend in the market, community support can largely hold onto the deviating movements of the market in the regulatory uncertainty. As per Vice-President of a leading crypto exchange mentioned “double down” for community support in times when the market condition occurs due to overbuying or overselling of stocks and coins.
Vincileoni, despite the present situations, believes the market is still “seeing the chances of progress” and really starting an era that anybody can barely envision.
