Cryptocurrencies have finally turned around. It seems like the bear phase in cryptocurrencies is finally over. Now that it is over, many of the investors are heaving a sigh of relief. Many people think of the bear phase in cryptocurrencies is their 1st phase. The truth is that there were a few unintended benefits of the same bear phase as well. One such benefit can help the cryptocurrencies in the longer term. All of these benefits are not short lived. There has been an unacknowledged advantage of the cryptocurrency bear phase as well. We will highlight that advantage below.
There is an unknown benefit of cryptocurrency bear phase:
Due to the bear market, the interest in cryptocurrencies is continuously decreasing. It is one of the primary reasons why governments and authorities all over the world are not that eager to enact new rules and regulations. While this might be an unknown advantage but it is undoubtedly a welcome one.
In the last three months itself, Bitcoin (BTC) has gone from $ 3600-$ 7900. Similarly, the other cryptocurrencies are beginning to move around as well. That is why it is not entirely sure that this benefit of the bear phase of cryptocurrencies is here to stay. With the popularity of cryptocurrencies increasing once again, more and more governments and authorities all over the world might think about regulating the industry. It will again spell doom for the cryptocurrency industry.
Till that time; however, this can benefit the cryptocurrency industry greatly. It can significantly increase the number of investors and traders in the cryptocurrency industry, which can lead to higher volumes and therefore, higher prices.