The bear market of 2022 is different than all previous crypto bear markets. We will most likely NOT see a repeat of events which occurred previously.
And there is one metric that makes me confident of this belief. And that is the almost total lack of capitulation from retail, and even larger investors.
On-chain data has shown that despite all of the catastrophic crypto-related events which have occurred over the past year, active wallet addresses continue to increase. And this is the case not only for Bitcoin and Ethereum, but for dozens of L1 altcoins and layer 2 solutions as well.
People are learning about crypto and the blockchain, and although prices have decreased, the objective data suggests that the majority of both old and new wallets are going to be holding through whatever disaster the world has in store.
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