According to a report from Deep Tide TechFlow, on November 14th, Dragonfly Managing Partner Haseeb Qureshi posted on social media that this is the easiest bear market he has ever seen.
Haseeb Qureshi reviewed the market conditions of 2022, when Luna collapsed, followed by the successive failures of Three Arrows Capital (3AC), FTX, Genesis, and BlockFi. The Axie and NFT markets also faced issues, and the entire industry seemed to be teetering like a house of cards. After these collapses, the banking sector also faced a crisis, stablecoins became unpegged, and regulators attempted to crack down on almost all companies in the industry.
In comparison, Haseeb Qureshi believes that the current market situation is much better. Although prices have fallen, the fundamentals are good, and cryptocurrencies are functioning normally. He advises investors to stay calm and focus on long-term development.
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