[dtube] Will Cryptocurrencies Suffer a Multi-Year Bear Market?
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