While many crypto veterans offer a wide range of Bear Market Tips and Strategies, some opt for a simpler approach: optimism. Being resilient and positive during this time is very important, according to Jeremy Almond, CEO of Paystand, a business-to-business (B2B) payments fintech.
Almond told Cointelegraph that the best way to plan for the crypto winter for businesses is to have what he calls a “brutal grasp of the facts” and “relentless optimism about the future.” He explained that:
“As a company, you always want to be resilient in the face of hardship, but also optimistic about the world we are creating.”
The CEO said companies should be the ones implementing the vision. For this reason, Almond said they need to be prepared, saying the best companies are those that are resilient and sustainable.
The Paystand executive also highlighted data that shows that crypto will reach 1 billion users In the years to come. According to Almond, crypto is here to stay, and companies that remain focused will emerge from the bear market with better products and services. Comparing the crypto winter to the dot-com crash, the CEO explained that:
“The companies that survived, thrived and grew were the ones that built real products and services, but were part of a larger movement that changed our business and our society.”
Almond pointed out that it is much better for companies to focus on creating value for their customers instead of constantly worrying about the price of a part.
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Asked about the layoffs the industry has witnessed Recently, Paystand’s CEO said the industry needs more companies for developers to work for. This is so that developers can use their creativity for the benefit of society. The executive noted that those with the most impact will naturally attract talent. He explained that:
“In this market, the best developers will go to the best companies that have the most real impact on businesses and consumers.”
Finally, the CEO encouraged those feeling pessimistic during the bear market to zoom out. “When I started, there was no industry at all. There were just a handful of enthusiasts,” Almond said. He urged the community to look at the progress the industry has made of blockchain over the past 10 years and the many products being built, such as decentralized finance (DeFi) and non-fungible tokens (NFT).