3/18 ANDY HOFFMAN (CryptoGoldCentral.com): Is The Crypto Bear Market Over?

Crypto’s first decade has been a roller coaster of emotions and volatility unlike any in financial market history. Its revolutionary nature; opposition from the “powers that be”; lack of understanding by 95% of the population; dramatic technological changes; civil wars, and low liquidity has created the perfect storm for investors, that has raged to this day.

Those who weren’t around for Mt Gox can’t fathom that things were once worse; let alone, prior boom/bust cycles that were MORE dramatic, with far less liquidity and media coverage. I was around for the former - and believe me, it was terrifying. However, for myself and 95% of crypto investors, the amounts of capital involved were dramatically lower, so the financial gains and losses pale in comparison to 2017-18.

For a brief period in 2017, just after SegWit locked in; and for altcoins in early 2018, when newly launched hedge funds catalyzed one of the biggest bubbles in history; crypto seemed invincible. However, when the inevitable crash occurred, it became clear it’s nascency was far from over. Yes, the crypto markets had matured since 2014 – but were still Wild West, with hundreds of useless new assets, and far more uncertainty about even Bitcoin’s future than expected.

More than a year later, there are as many questions about crypto’s future as ever – except for the most important one; i.e., will it become a major, world-changing asset class? To that, I am 100% certain the answer is YES – as despite the myriad issues Bitcoin, and crypto in general, must still navigate along the rocky road toward mass adoption, it’s patently obvious that the genie is out of the bottle, never to return.

Yes, the “Hoffman Line” was broken in November – when Bitcoin broke below $5,700 under the attack (perhaps, government-coordinated) by, of all things, the inconsequential, but extremely malicious “Satoshi’s Vision” movement. However, it never came close to King TA FUDster’s $1,300 fear tactic-based target; and in fact, the total crypto market cap held its own “Hoffman Line,” as the ultimate bottom was $101 billion, in mid-December.

Sure, crypto COULD collapse below that level; but after holding support this long; and now, rising along with trade volume and the Bitcoin hash rate, it’s very difficult to envision why this would happen. True, crypto isn’t “perfect,” but it’s unquestionably the most revolutionary financial invention of all time – and in my view, its potential use cases are far greater than ever. Not to mention, it’s a LOT easier to buy, hold and use -and a LOT more widely understood.

https://twitter.com/Andy_Hoffman_CG/status/1101840881986895873

https://twitter.com/kerooke/status/1106974342175297536

So, to the question of “is the crypto bear market over,” my answer is very, very likely YES. How fast it rebounds, and what coins are the biggest winners are yet to be determined – but it’s safe to say Bitcoin will be an important part of the global financial markets for the foreseeable future; and that altcoins are not only here to stay, but likely to gain market share as entrepreneurs push the limits on what crypto can do.