Crypto Bear Market Has Benefited Blockchain Development

May 2, 2019

The crypto market has seen remarkable developments over the past couple years, having lost roughly 85% of its value since its stunning peak in 2017, as Bitcoin (BTC) dropped from its all-time high of US$20,000 to US$4,000. This has consequently led to a major downturn that continues into the present.

Still, with the exposure and hype tapering off and more sophisticated projects making inroads of their own, the community has seen focus shift away from token prices and towards technology and adoption.

According to e27, the market has effectively seen a reset of sorts as the ecosystem becomes healthier and stronger, with many investors shying away from cryptocurrencies even as others take the opportunity to become more knowledgeable about blockchain technology and explore its game-changing applications.  

Furthermore, growing institutional interests are an indication that the crypto market is maturing. Rather than merely attracting short-term day traders trying to cash in on the latest trend, the market is now bringing in serious investors channeling substantial capital into the long-term development of the blockchain industry in its entirety.

Going forward, the crypto trading market is on course for further institutionalization, as trading systems replace conventional financial infrastructures.

In many ways, the bear market also helped to cleanse the crypto industry of bad actors and unsustainable projects that had emerged from the 2017 bull run, while simultaneously serving as a cautionary tale for future investors by reminding them to weigh the risks involved before diving in.

Such a market has demonstrated that when assessing success or failure, the price of cryptocurrency matters less than the long-term potential of blockchain and its adoption.

Source: e27.co

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