The effect of the bear market on cryptocurrency and TBCC
Greetings friends! In this article we will tell you how the bear market has affected cryptocurrencies and the TBCC ecosystem as a whole.
The impact of the falling market on the cryptocurrency market
It has been almost a year since the cryptocurrency market began to fall. The Fear and Greed Index still fluctuates between 20 and 27.
But for all the hatred the players of this market have for its current state — a bear market is needed to “cleanse” it. In addition to cryptocurrency, projects are also created in offline business. They, too, take on some competition and people’s attention. And people are the engine of the market. The market is cyclical. When it grows, even scam projects can shoot up. But cryptocurrency doesn’t have much of an impact on the economy at the moment. Bitcoin follows the stock market. And all other coins follow bitcoin.
Now most projects have almost no money for future development. And it is precisely this bull market that is met by strong and fundamental projects that really have a useful product behind them.
Also without money for development are ordinary offline businesses and high-tech startups. They are also washed out of this market and can only return in a bull market, or never.
Such market cycles help the market recover and grow again. From a large number of projects with no foundations and no product, money flows to fewer projects with foundations and a quality product.
No one knows when the next bull market will start. This crisis is protracted and hard on people. The market is very much influenced by political situations and the U.S. Federal Reserve.
How the bear market affected TBCC Labs
Despite the multiple capitalization declines, the TBCC ecosystem has grown well. New products have been developed. Social media activity has grown. Trading volumes and TVL increased several times.
In this time we opened an office in Istanbul; We opened the TBCC Cloud (a service to start our own bourse); We sold the first TBCC NFT collection;
In the near future we plan to launch TBCC Finance, our decentralized exchange.