Why does Charles Hoskinson agree that it's a bear market?

Currently, the whole crypto market is going through tough times where various experts in the space have different opinions regarding this

The crypto market has been beating recently, and Cardano (ADA) is among the digital assets having the worst hits. The situation has created a spark of fear in the market where the investors are mourning regarding the possibility that the crypto market is heading towards another bearish trend. Founder of Cardano network, Charles Hoskinson, has also considered this issue while addressing these current bear market concerns, or it should be taken as his confirmation for the same.

Hoskinson recently posted on his Twitter account while praising Cardano network’s fundamentals, where he said that Cardano has been able to retain the network’s title with the most development that was being carried out and as a result of which this has seen enormous growth in different aspects.

In his tweet, Hoskinson also celebrated the fact that the network was getting more decentralized, getting faster, and remains most advanced in terms of technology, and among them, the best of all, the community continues to grow from almost all angles. There were those, like clockwork, who turned out to mourn about the price drop of the native cryptocurrency of Cardano network, ADA, despite all the continuously going on developments. In his response to the tweet of Hoskinson, a user named Matt Winfield said that he took out time to explain to them why the price of crypto assets is down.

As per Charles Hoskinson, this is definitely a bear market. So naturally, this is expected that the price of Cardano’s native price ADA would continue to drop alongside the rest of the crypto market. This is going to happen anyhow, no matter what the network does or the developments are going to carry out.

In response, he told Winfield that this is called a bear market, this is what happens, and nothing changes it. He said that no announcement could make a difference no matter how absurd plans they introduce, from Cardano curing cancer to a personal poker-playing robot who will also drive people’s grandmothers to church, it would still fall. Ultimately the tweet Hoskinson confirmed his belief that the market is in a bear trend now.