The bearish run the in the crypto market has persisted despite analysts claiming a turnaround in the corner some months ago. While many are still skeptical about the damages currently being experienced in the market, Messari boss Ryan Selkis notes that this is healthy for the market. The Messari CEO is also upbeat about the success of his conference riding on the wave that the market downturn has brought.
Messari boss upbeat about chances after the bearish run
Ryan Selkis has been a known figure in the crypto market since 2013, and for that period, the CEO has come to terms with the good parts of the bearish runs. He noted that although the bears always push some companies out of the markets, the ones that remain always witness a massive uptick after the period. The Messari boss also noted that this present period is also coming in contact with a period where countries are trying to regulate their crypto environments.
However, he noted that this could help the market witness a turnaround. Selkis told reporters at his conference that the bearish runs always help to bring the much-needed professionals into the market while eliminating the pretenders. In his words, Selkis pointed out that the market does a good job of removing all the dead woods in the sector during bearish markets.
Selkis advise collaboration between regulators and firms
In his statement, the Messari boss noted that the company added as many officials from regulatory agencies as possible as speakers for the event. This was to show traders and the general public at large how companies and these agencies are now teaming up to ensure that better regulatory frameworks are created in the crypto market. He noted that these kinds of things are what the market should be all about. During the event, he had a great chat with one of the officials invited to the event about how they could help create a balance regulatory environment that will be overseen by the different regulatory agencies.
The first time an official of a regulatory agency made an appearance at the event was during the last edition. The official appeared to have given Terra boss Do Kwon a subpoena when he made his way into the conference. The Terra issue has caused a terrible ruckus across the market causing investors to lose millions in funds. Some even argue that the collapse was what further dipped the market in this bearish run. The collapse caused some high-flying firms such as Voyager Digital pack up shop.