Thoughts on a Bear Market.
If there's one thing that everybody in the cryptocurrency market right now can agree on it's that nobody agrees about anything.
Most people that I know were saying that the end of January would mark the end of the dip and that we would start to rise up shortly after that and we would see a great year in 2019.
Pixabay
Now people are saying that if Bitcoin should fall below $3000 within the next month or so that could start a nuclear winter. That's supposedly much worse than a regular winter because it has the word nuclear in it.
I'm now seeing a new group of people that I hadn't noticed before. They are saying that the real bear Market has just begun and that we're likely to see a bear market for the next 3 to 5 years.
That seems awfully bearish to me..
On the other hand, I was truly advocating people put money into Bitcoin and other cryptocurrencies during the year 2018. I really thought it was going to be a great year and I was wrong about that.
So what the heck do I know, right?
It's also possible that we're going to simply go sideways for almost the entire year. If that happens we're going to hope that Steem decouples from the rest of the cryptocurrencies to rise up to its rightful place which, in my opinion, should be right around 10th Place.
My personal opinion is that people are probably being too bearish right now. That makes sense considering that people were being too bullish in 2018. It seems like we always go one way or the other.
It's really tough to tell where the market is going. I think it's going to start heading back up pretty soon. I'm not sure if we're ever going to see that end of January dip I was talking about. It is true we had a little dip but not as much as I expected.
I guess we'll have to wait and see. It's tough thinking about what to do during a Bear Market
I think it would be good to come up with a strategy that you would do concerning cryptocurrency and its value to you that you would do bear or bull. If the crypto has value it should have value no matter what other people are saying they believe.
Well my strategy is that I only invest in projects that I believe in.
One of those projects is Cardano. I invested at a dollar forty and it is now $0.03. If it takes 50 years for it to go back up to a dollar forty then that was a bad investment regardless of how I felt about the actual project.
It may have been a bad investment finance wise but did your investment help to move the project along its path? If so, I'd say the investment was worthwhile.
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My sentiment exactly!
Nobody truly knows where it will all go as there are so many factors that will influence it all. The technology is great and has the potential to disrupt most financial markets we know at this point but regulation and user interface are still barriers that can delay or even slow down adoption. In the meantime, I agree we need to support the projects that make sense and have use cases for ourselves and never put too much that we cannot afford to lose.
Posted using Partiko iOS
I'm thinking slow recovery more connected with value and real use vs. speculation. I don't pretend to know for sure. That's what happened after the dot.com bubble.