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.
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?
We have seen times like these before, larger drops and ban scare tactics. I personally am not concerned, the technology surrounding this space is the future and nothing can stop it. Another day, another ban.
I really do not see bitcoin going below 5000.
If it does then I think then I'll start to readjust my opinion but yeah whether it is bear market or not if it drops to 6000 or 5000 I will personally be massively increasing my position over the year!
Same here my friend
I think the same governments and credit card companies who are pushing for regulations (important actors of it) invested heavily in Bitcoin futures shorting it. It’s war they want and war they’ll get.
I think you're absolutely right
I saw Netflix’ Dirty Money episode on Valeant and it brought an interesting perspective on the business of shorting. Hang in there everyone!
Im expecting the worst. Im around 100% in profit on my entire portfolio right now. I think I wont see 0%......But Im ready for it. Memes and wine are gonna hold me in these times which separate man from boys.
Damn right!
Good video, a more sensible approach than some of the videos you see around, cheers mike
All cryptos are down a lot. Bitcoin was close to 20k, now 7k. XRP was 3 USD, now 0.80 USD. Ethereum was 1300, now 700. All cryptos suffer. Anyway I do not want to believe that they wont rise again. Everytime I say bitcoin is dead, few weeks later its price even doubles. Plus if the value of bitcoin goes under 5k, I dont think anyone will mine it anymore if it not profitable and therefore bitcoin will die. No?
Great video @louisthomas. Considering the numerous things that we having going on in the blockchain/digital asset sector of technology, I just don't see how we could have a multi-year bear market. Mind you, we've had the Tether hack, parity wallet hack, and Coincheck hack. I just don't see an extended bear market happening. This is all just a sell-off of digital assets that were WAY overvalued to begin with imo. Yes, there's ALOT of "new" money in here, but there's also ALOT of "new" people in here.
In my opinion irs unlikely an year long bear market hence my hodling. I do worry about it.
It is also a hard decision if to put or not more money in. Since there are projects so low its unbelievable.
As Louis said best, Im grateful for the opportunity to build my stack. Couldn't afford to do so in late Nov/ Dec 2017. When theres blood in the streets, buy buy buy