It should be noted that a positive view of bearish trends is quite common in the digital asset industry. For example, this view was voiced last week by Changpen Zhao, head of cryptocurrency exchange Binance. He believes that the digital asset niche is at an early stage of its development, so such periods allow for “zeroing in” and launching a new phase of progress.

Binance chief executive Changpen Zhao

You can read more about the billionaire entrepreneur’s views in a separate article.

Why cryptocurrencies are collapsing

One side of the crypto market is regulators, who form rules to control the circulation of digital assets by states. While this goes against the ideas of avid Bitcoin-maximalists who advocate complete decentralisation, the presence of regulators in the market helps protect investors, which means more money is invested in crypto after that. According to Selkis, a bearish trend is the best time to develop regulatory infrastructure. Here is his rejoinder on the matter.

A bearish trend is good for attracting new people into the business. During it, we get rid of extinct projects.

Indeed, the cryptocurrency industry is actively changing during the stages of collapse. For example, there is no active creation of dogged tokens in the niche right now, which was happening in 2021. Back then, there was more than enough investor money in the market, so such projects took off immediately after launch. Now the industry is in a prolonged downturn, which means few investors are willing to risk their money and get involved in something like this.

Messari CEO Ryan Selkis

Selkis also noted that representatives from the Commodity Futures Trading Commission (CFTC) and the US Department of Justice have been invited as speakers at this year’s conference. Their presence reflects a growing shift in the crypto-sphere towards regulators collaborating with companies. The expert continues.

Negotiations need to take place. For the most part, people seem to be on the same page in terms of coming up with more constructive solutions, rather than being at odds.

So here Selkis has made it clear that regulators' representatives are essentially in agreement on the outlook for the blockchain platform industry going forward. And that makes sense, since the niche's progress will also benefit the government in the form of additional tax deductions.

Cryptocurrency price movements over the past 24 hours

According to Decrypt’s sources, Selkis chatted with CFTC commissioner Caroline Pham on stage at the event. They discussed how regulation is able to help the crypto industry in developing clearer guidelines for companies and the development between the CFTC and the US Securities and Exchange Commission (SEC). The Messari executive also spoke to Sanjeev Bhasker, who works for the US Department of Justice’s digital currencies programme as an advisor. In this case, digital privacy in the use of cryptocurrencies was discussed.

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Not only regulators, but also big tech giants are actively engaging with the crypto market. However, the latter is sometimes not to everyone’s liking. For example, the day before, the digital asset community criticised Apple’s new policy, which introduced a 30 per cent commission on NFT transactions through App Store apps. By comparison, NFT token trading platforms take an average of 2.5 percent per transaction as a commission, Cointelegraph reports.

That’s why Apple’s demand is being called a serious surcharge, although almost the same amount of commission is taken by Google Play’s Android NFT app platform. The Information reporter Aidan Ryan wrote more about the situation on his Twitter. Here’s his rejoinder.

Apple has told startups that they must sell NFT tokens through in-app purchases. This forces app owners to limit their functionality to avoid a commission of up to 30 per cent of the transaction amount, even if they only facilitate transactions.

App Store

Apple’s policy is “stifling” the unique token business on the App Store – on top of high commissions, each transaction must be conducted in US dollars, which imposes additional risks on the parties to the transaction due to the increased volatility of the crypto market. Some crypto startups are already beginning to wind down their services in Apple’s ecosystem – NFT platform Magic Eden announced this earlier, though its app is still available to download from the App Store.


We don't think there's anything wrong with a long-term collapse in the cryptocurrency market. Of course, it negatively affects the size of one's portfolio, but experienced crypto investors use bearish trends to stockpile coins and look for new promising projects that are able to perform well in the next growth phase. So, it's better to put up with this peculiarity of the market and try to use it to your advantage.


What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we also talk about other relevant topics that affect the cryptocurrency world.