Why binance being specified when the exchange issue is just a small thing now as they are expanding in other part of the world with regulations following so US is not the only place where they need to Serve then I think this should not be the issue here.
Crypto regulations ? well as long as the business does not violate any terms then I believe this will eb tolerable .
And those other issues may matter but the effect is just temporary and not the reason why there are a need for Longevity of Bear market .
also look at it now, when there is a halving coming and also the effect of the Spot ETF than we all believe will bring more than what we experienced in the past bull market.
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Reality has proven: in 2023 Binance had to pay a huge fine and CZ could not continue to hold the CEO position. But the trading volume on CEX in Q4 2023 has increased very strongly, and at the same time governments have not had more harsh regulations to suppress our crypto market.
I consider 2023 a period of accumulation and recovery of the market, not a bear market. ETH has also increased in price from 1200 USD to 2400 USD, confirming that 2023 is a good year for ETH and the crypto market.