Can crypto still enter the bear market?
I'm heavily invested in crypto and I've been researching about what could happen in the next 3 to 6 months in order to better protect the profits I made in the last 18 months.
In the long term I'm very bullish because about Bitcoin and crypto in general. As a Software engineer working in the financial industry I understand the blockchain technology, its disruptive potential and I've seen directly the large investments that startups and financial institutions are making in this field.
I'm invested in crypto for the long term but I also want to protect my investment in the short/medium term and that's why I'm researching and listening to investors/traders of different opinions, especially those who believe there are still chances for the crypto market to crash soon after the parabolic raises of the first half of 2017.
One good argument that I hear is that the Bitcoin price chart in the last 3 months looks very similar to what it was at the end of 2013, when Bitcoin surged from $100 to over $1,147 before slowly crashing down to $200 in the following months.
Look at that double top peak in the charts and judge by yourself:
Technical analysts believes that, in a given market, history repeats itself, like in a fractal/matrix of sort. Identifying previous patterns is key to predict future trends, at least in probability terms.
Despite yesterday euphoric Bitcoin rise up to touch $3,300, chances we enter a significant correction are not nil, at least from a Technical analysis perspective.
Fundamental analysis is another beast, and I believe the fundamentals for Bitcoin are great:
From the activation of Segwit in the next few weeks, to the SegWit2x in November and the implementation of layer 2 protocols like the Lightning Network by the end of 2018, which should resolve Bitcoin scalability issues.
To mitigate the risks of crypto entering the bear market and my bitcoin investment losing value in the next few months, I've invested in Bitconnect.
I'm now receiving about $100 every day from my loans to the Bitconnect trading bot.
If the bull market continues I could make more money just holding my bitcoins but I want to hedge against the risk of bear market and I think that securing daily $ payments via Bitconnect is a great way to do that.
Please use my Bitconnect referral link to try the Bitconnect service if you also think cripty might consolidate or correct significantly in the short term and you want to hedge against this risk :
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