Over the past few months, it has become more and more clear that we have entered the next bear market. With the global economy in shambles and the next bitcoin halving nearly two years away, it appears as though we are in this for the long haul. But the bear market isn’t that bad, in fact the bear market is the ideal time to build, say Dion Guillaume of get.io.
establishing a strong foundation
In times of economic uncertainty, companies are forced to reevaluate their entire operations. Areas where resources are scarce are cut off and areas with promises are given more attention. Bear markets emphasize the need to run an efficient operation that focuses on its strengths and solves real problems for the end users. Thus establishing a strong foundation for the future of the company, and the industry in which it aims to compete.
Investors are less concerned about outperforming their competitors or raising large funding rounds and more interested in an efficient, lean operation. In fact, it is more difficult to raise funds during a bear market. This directly prompts companies to reevaluate their entire operations, providing an opportunity to pivot in a direction that shows more promise.
Bear Market: More Opportunities
One of the biggest benefits of a bear market is the ability to hire top-tier talent without breaking the bank. With an increase in the number of talented individuals looking for new opportunities, companies are forced to reduce their workforce. Workers are more willing to negotiate the terms of their employment for the benefit of those interested in hiring.
Over the past two years, hybrid working, or fully remote operations, has seen a surge in interest and the current bear market will continue to drive it. This is a win-win for employers and employees. Companies don’t need large physical offices, which can be a drain on resources. Employees benefit from a more relaxed working environment without commuting, which can increase their productivity.
Bear market: a wealth of opportunities
Well-known venture capital investor Bill Gurley recently tweeted that now is the best time to build a company in 15 years and I wholeheartedly agree.
The opportunities offered by Web3 and Metaverse, decentralized finance and the wider crypto market are unprecedented. There is a common misconception that crypto is about digital money, but this is not true.
Almost every day, companies and countries around the world change their perspective on crypto, promoting adoption and providing opportunities to grow the infrastructure of tomorrow. Bitcoin was developed in response to the 2008 global financial crisis, driving the growth of crypto into today’s one trillion-dollar industry.
The current bear market and the global economic crisis could be the driving force for the next Bitcoin growth. Or, turn down an entirely new industry built on blockchain technology. Opportunity is all around us and now is the time to build…
About the Author
Dion Guillaume is Head of PR and Communications at Gate.io. He is also an entrepreneur, marketer, cyclist, business owner and crypto writer.
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