More than 3,500 employees are currently affected by massive job cuts in the crypto market, but the worst appears to be yet to come. Many other exchanges, including KuCoin, were reportedly identified as planning to reduce their workforce in recent weeks.
The year 2022 has proved to be an unprecedented feast for the bears in the crypto market since the history of cryptocurrency. Bitcoin for instance had been trapped below 30K consistently for the past six months marking the Q2 and first half of 2022. Spot traders who considered Crypto trading as an investment have seen their portfolios return to dusts; witnessing more than 80% loss of value on their invested capitals ever since. This has pushed many newbies to raise the question: Can one make profits in the bear season? Well, this article has responded positively to the foregoing contention while elaborating on the possible ways to make profits during the bear season. Scalping the market on spot position and shorting the market on futures and margin trading could be considered the only way to remain profitable during the bear season and escape liquidation from over-leveraged longing positions.
As yet another altcoin nears zero, the event reminds the community why Bitcoin is the only authentic cryptocurrency.
The bear market is here, but Kris Marszalek states crypto will come back stronger.
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