“Bear markets last longer and go deeper than we want them to. Need a couple of capitulations, then chop, then rebirth,” Selkis suggested.
He thinks the market could suffer an additional blowback in the near future, arguing that the current situation is worse than the one observed in 2019. As a matter of fact, the industry suffered not one such event. Recall that the Terra crash, the Celsius Network bankruptcy, andtriggered multi-billion investor losses and undermined the legitimacy of the entire digital asset sector.
We’re approaching max pain. Bear markets last longer and go deeper than we want them to. Need a couple of capitulations, then chop, then rebirth.
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