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RE: Will Cryptocurrencies Suffer a Multi-Year Bear Market?
No one can say for sure but this is def not a good time to be panic selling. Panic buying makes more sense at these levels and especially if we drop down to around $5000 Bitcoin again. That's a Mt. Gox style drop like 2014 where Bitcoin lost 90% of its value in a year. But keep in mind BTC dominance was at 95% then. This is a different crypto world today and we have many projects and more advanced coins available.
So this could be an opportunity for the rise of another cryptocurrency. Probably bitcoin will lost its dominance. Which cryptocurrency could defeat bitcoin?