As FUD spreads like wildfire across the cryptocurrency community, there are now many people arguing that we could be in for a multi-year bear market, similar to what occurred in 2013 after the collapse of Mt. Gox.
But is this really possible? And how likely is it to occur? Could we actually be in for a prompt price rebound in the next few weeks?
That's what I'll be addressing in this video.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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Thumbs up if you bought BTC at $10k thinking you were smart for getting it at a 50% discount, but now you are sitting here in tears cause you're now looking at an almost 50% loss....
(....if you didn't quite get it, yes, that was me)
You have my vote good sir (or madam)!
not in tears, but looking for more opportunities. Got in at 7700, now looking at getting in around 5800. HODL!
I feel you. Also lost quite some money with the recent drops. But keep your faith in the system. It'll come back up soon, and you'll make the money back faster than you can imagine. We just need to wait for the moment everyone regains trust in the market, and it might be a bigger year than 2017!
BTC cannot be in a bear cycle for multiple years. You are correct it could be in a bear through the early part of 2018. It is almost certain to come back.
I am personally hoping for a drop down to $2K level. Or lower.
One more chance at a "one in a lifetime" buying opportunity.
https://steemit.com/bitcoin/@davebrewer/hodlers-can-be-uninformed-morons-do-you-understand-you-are-not-buying-lottery-tickets
Honestly, I think all this FUD will be multi-month, but not multi-year!
Agreed!
Its about to Moon Shot!!! The Whales are about to return... The market is will be extremely profitable.. All kinds of Wonderful events are about to happen.. Stay Fosty
I think Bitcoin will go for $5000 before going for a bull run. The market should be back at $800 Billion by August.
I agree, looking at the 200 sma as a bottom since historically this has been correct currently 6k. The longer it takes us to hit the 200 sma the lower it will get as its now turned down, a month or so would be 5kish I believe.
Prices already blew through 200 day SMA, on the way down
https://steemit.com/bitcoin/@davebrewer/hodlers-can-be-uninformed-morons-do-you-understand-you-are-not-buying-lottery-tickets
That’s ema not sma, trading view its smoothed moving average. Smma 100 9k ish and 200 6kish, I am no expert but it seems to hold true.
tbh, I'm just praying for the day BITCONNNNEEECCCTTT™ sweeps the market™ again and it's too big to stop it.
BITCOOOOOOOOOOOOOOOONNNNECCCCTTTT™
Thanks Louis! Agreed with you!
Very hard to tell, but many seasoned traders think that it's a real possibility at this point.
This FUD is scary at the moment but soon we will see a correction that will bring everything to its place again and we will see more.
Patience is a virtue.
The crypto market moves so fast. Crypto is like dog years to other assets. A stock bear market usually lasts for about 12 months. In crypto it might last for just two months. Once the market bottoms out, expect a big upturn, and that will be the end of the bear market, but we might not see new highs for three to five years, if ever. Valuations got totally detached from fundamentals. At it's peak, Bitcoin's market cap was about $300 bn. That's about the value of Wells Fargo or Wal-Mart. That's crazy. There are any number of other cryptos that can do the same thing as Bitcoin, why pay the premium?. This bubble has been a huge misallocation of resources. The money in cryptos would have been better spent on investment in factories or research or whatever, anything that creates wealth and pays dividends. It's gonna be a long time before people lose their heads with crytos again.
Can we all just agree that this isn't the bottom but Bull run isn't over. With projects like Cardano, Substratum, Icon, LTC, ETH, BTC... the list goes on.... there is a ton of room for growth. If you get in to BTC at $7,000, $10,000 or $20,000 in my opinion you're ahead of the curve in the long term run at this thing. HODL: Yes. Keep your Coins in cold Wallets: yes! Stay Frosty. :)
HODL is not as wise as many people seem to think
https://steemit.com/bitcoin/@davebrewer/hodlers-can-be-uninformed-morons-do-you-understand-you-are-not-buying-lottery-tickets
Hi Louis, greetings from Tonga, I noticed that you have not moved to the "Big City" yet. My thoughts on the situation are pretty much similar to yours. I do not see an multi-year bearish situation, though I do not see a very quick rebound either. I think that as bad as this may seem to many you can not compare it to the Mt Got era (although I was not personally involved in Crypto then), the reasons being that, as you said, Mt Got was a much more all encompassing event, the exchange catered for a high percentage of the total trading activity within the space and as such effected a very high percentage of people who were invested in a market much smaller than today. As you said we are currently dealing with life in a much more evolved ecosystem with many more fiat on-ramps and trading platforms. I see this as an ongoing trend and believe that, with the launch of platforms such as Robinhood et al. into the space and with decentralised exchanges growing in popularity friction will be reduced and thereby greater traction with regard to uptake will be achieved. In addition to the change in the ecosystem, there is no comparrison with the general level of blockchain tech between previous multi year bear markets and now. Many organisation have groundbreaking developments on their horizons whereas previously there was little more than Bitcoin, a few test nets and a spattering of white papers. Part of the reason that I do not see an immediate bounce back is quite simply that a lot of people feel as if they have been burnt (simply due to their point of entry....and to a certain extent I am one of them...although personally I do not feel burnt as it is just what it is). The general Crypto "Brand" has been damaged from the perspective of those standing on the side lines (and there are many more of them than there are of us current investors) and I do not think they see unknown issues, such as what is going to happen in terms of regulation, as a positive point in their decision to jump on in. I have heard many speak of the annual January down turn that will be over as soon as the Chinese New Year is over. I find this hard to imaging, due to all of the current regulatory pressure upon the chinese populace, though I am sure that there may well be an increase in activity from other parts of Asia. Personally, I hope that the market does stay suppressed for a short while longer to give me the opportunity to amass some more Fiat to go shopping with. Anyway just realised that I am probably rambling so I will sign off, but thanks as ever for your thoughts and insight. Cheers J
No it should go back up in march
It should start going back up end of February hopefully
The lower we go the more people who only got in for the returns it was giving are going to exit the market. People who do not understand the tech leave when the going goes bad.
I am quite new to the crypto space, and did not experience a crash like this, but I hope that it's not going to last much longer, and that we will see green every day. The tech, and the improvement is given to make new all time highs, the only thing needed is people to realise it.
The price crash may last for some time don't think it will be for a whole year though, but definitely think it will rise again.
I think bitcoin will rise again.. we just need to wait for it to pop. This media is giving the people wromg informatiin and manipulating their mind..
I think after more countries weigh in and regulate, and more companies sign on to accept bitcoin as payment this year, we'll get a better and more stable sense of valuation. Before then, what it's worth is anyone's guess!
I think we'll be fine within a couple of months. There is a lot of panic going on at the moment, due in large to a lot of new money entering the market recently when the mainstream media caught Bitcoin fever. A lot of these investors haven't done any research before spending their cash, so they have no idea what to do in this kind of dip.
Highly possible. Unless the price drops to less than $3,000, I think this should be a healthy correction for BTC. Buy the dips in chunks and sell the top in chunks as well. :)
I see a price rebound, but not for few months
Nice vid
Bear market is always happen during this month. And it happen years before. It almost every year.
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DTube: (flips bird to ad revenue)
It is such a pity FUD control the market right now. People are made to believe their currencies cost less and less and they try to sell them at the current price which they believe is high so they dont lose money. These are all whales moves (FUD) and after that they'll buy tons of crypto once the price is low.
I don't think we are facing a multi-year bear market in crypto assets. Once we hit the bottom it will be a gradual grind up and not the same parabolic moon shot we have witnessed in past months. Something much more healthy for the market and long-term investors / believers. When looking back we will realize that this is a good and much needed correction. Even if it hurts a lot! All assets had simply become overvalued. Think about all the coins and tokens without a working product, little utility and a missing revenue model; and yet still worth hundreds of millions. Unreal! HODL and sway with the weather. You will come out stronger in the end.
This week is like a melting snow mountains....
According to the firm Autonomous Next, the number of hedge funds investing in digital assets like Bitcoin has grown rapidly to more than 100. Since the launch of Bitcoin Futures on the Chicago Mercantile Exchange in December 2017, it shouldn’t be a surprise to anyone why the price of Bitcoin is down 50% from the high.
bitcoin.PNG
Only Retail Investors chase price and buy high and sell low, while the Professionals buy low and sell high. The Hedge Funds have purposely sold Bitcoin futures to get in a better price.
At the moment, there is a war taking place between the buyers (Hedge Funds) and the sellers (Retail Investors) called capitulation. That line in the sand was at $9000. Capitulation is when investors give up any previous gains, by selling, in an effort to get out of the market. Capitulations are outcomes that result from the maximum psychological and financial pain that can be endured by a group before throwing in the towel. The Retail Investors are throwing in the towel after seeing a more than 50% correction in the Bitcoin price to the buyers, the Hedge Funds. With 100s of millions of dollars to invest, we are witnessing an accumulation phase by the Hedge Funds between $6000 and $9000.
The Hedge Funds are loading up and buying from the Retail Investors. But to fill all their buy orders, as the sell orders dry up, price must go down to the next stack of sell orders. We are approaching what I believe will be the bottom of bitcoin at $6000. My first target is $12,000 and my second target is $17,000 over the next 3 - 9 months.
The easy money has been made over the last 12-18 months. With the big boys in the game now, the rules have changes. The question is, are you ready to play to win with a new play book?
This post is my personal opinion. I’m not a financial advisor. Do your own research before making investment decisions. By reading this post, you acknowledge and accept full responsibility of any gains or losses.