‘Builders rejoice’: Experts on why bear markets are good for Bitcoin

‘Builders rejoice’: Experts on why bear markets are good for Bitcoin

The crisis has triggered a wave of panic in the community, with the Bitcoin miners’ selling activity surging to seven-month highs as the BTC mining profitability has dropped to October 2020 levels.

Bitcoin’s Fear and Greed Index fell posted the lowest records since pre-pandemic times in Q3 2019, dropping to seven and indicating “Extreme Fear” on June 15.

These and other recent events in the industry do not look good, but only at first glance, according to some industry experts and executives.

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People in the industry continue to reiterate that bear markets are actually good for Bitcoin and healthy for the crypto industry as they remove speculators and scams, while providing space to build real and great products and services.

“The current situation is good for Bitcoin in the

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