How Long Can The Bear Market Last? Some Observations & Thoughts...

in crypto-news •  2 months ago

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@crypto Great video, cool to always see you sharing. Thanks

Living of crypto is the motto these days:

  1. I sold more than 250 Dollars worth of Lumens in June
  2. Sold more than 200 Dollars worth of Lumens in July
  3. Sold more than 250 Dollars worth of Ripple in July

All for Rent, food and some for paying back borrowed money..... all probably due to the fact that I was trying for timing the market rather than put time in the market

As you have mentioned in previous videos, all markets go through cycles in which nobody can really time effectively. While I agree that it is still a bearish sentiment and that we still need a big capitulation drop with high volume to flush out the final sellers; the sentiment could be indicating a bottom and the start of a more stabilization process that is needed before the next move which will be determined by the fundamental value rather that hype or speculation.

We're yet to hit that point of balance and I think this is all part of the 'stabilization phase'. I personally think the bears will go on for a few (my opinion) till that actual value is determined. That's why those who predict a 40k bitcoin I find really amusing

Unfortunately, it can keep going as markets always tend to overshoot valuations on both sides of prices.

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BOXContentBox0.021$-4.48%-23.0%
BTCBitcoin7573.466$-0.32%-5.85%
ETHEthereum412.801$-1.4%-12.02%
NANONano1.701$3.2%-24.6%
PREPresearch0.102$-0.01%-1.33%

The answer is a long time, hopefully it does not last as long as the 2014-2016 bear

I have made all my money in crypto so it was nice in January but I did not take profits and now I am back to square one which is barely living entirely of crypto. I am happy and optimistic. The bull will come eventually and if it takes two more years I will be able to grind tons of more Steem Power which with a higher price will be much more difficult.