Poll: Are We In A Bear Market Or Is This Our Normal Crypto Market?

in dpoll •  2 months ago  (edited)

Poll: Are We In A Bear Market Or Is This Our Normal Crypto Market?


Admittedly I joined the crypto world late. However I did join in time to see the end of the last bull run. In fact I got caught up in it and bought some XRP (My First Crypto Purchase) for over $2 each. Today XRP is trading at $0.27XXX USD. I think its fair to say I got caught up in the FOMO (Fear Of Missing Out) that was taking place at that time.

Shortly after my purchase the price of XRP (along with (almost) everything else crypto) started to tumble downwards and we have yet to see a full recovery or have we?

After all a notable crypto assets has stood out among the rest. The game Steemmonsters (Splinterlands) has digital tokens known as monsters and an in game currency known as DEC, both have held their value very nicely.

Not only has the cards (which are a form of crypto) held their value but in many instances card values have went up and continue to do so while the majority of other cryptos stay stagnate or continue to fall/recover a little and then fall again. Lets take a look at the current market cap for the in game digital cards, its at $4 Million and looks like its growth isn't stopping anytime soon

What if we aren't in a Bear Market, (Shocked Face) ,What if the current market that we are experiencing is the normal crypto market. What if the downward spiral we experienced was a massive correction to the correct market prices of our crypto assets?

As someone who joined the crypto world late, I would love to hear your thoughts on the above in the comment section below.

What is @steemmonsters ?

Steem-Monsters is a digital card game created by @aggroed and @yabapmatt. Early game release has launched and prizes are already up for grabs. Some of the cards in this game have already sold for upwards of $3000. You can check out Steem-Monsters by clicking here. You can sign into the official site using your Steem details.


  • Bear Market

  • Normal Market

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  • Bear Market

!BEER
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Hey @upvotenev, here is a little bit of BEER for you. Enjoy it!

The crypto ecosystem of investing has become very skiddish, or weak among the groupthink that is out there. Crypto investing went from a fear of missing out, to a much great fear of overpaying for something that will eventually give you a chance to buy on the dips, which is what I think a lot of the crypto world is in as far as mindset goes. If I like at X price, I will really like it 10-20% off X price, or maybe if I am lucky even cheaper than that. I think it will always be up and down depending on the number of "day trippers" or casual traders come and go. When BTC went nuts everyone and their brother had it, the second it showed any sign of weakness we have an instant crash. There are a lot of weak hands in this place and you just need to be prepared and think that way, in my personal opinion. It's different though when you have steemmonsters cards that are done printing versus any given crypto that can be subdivided infinitely (it seems) and countless others popping up. There will be a great extinction and consolidation once some of these groups start figuring what practical answers there are in the real world versus coming up with concepts and models that have more to do with random thoughts tossed into a bottomless pit versus targeted actual answers to utilization in a given field.

There's a large group that are invested in crypto to get more USD so I tend to agree with your assessment that crypto is full of weak hands that are simply waiting on one reason or another to sell.

!BEER



Hey @cryptkeeper17, here is a little bit of BEER for you. Enjoy it!

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  • Bear Market

And I really hope I am right.

Though, if this was "normal" it wouldn't be so bad...

I think everyone in the crypto world hopes you're right!

!BEER



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  • Bear Market

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Voted for

  • Bear Market

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  • Normal Market

I honestly would like to think that this is just a bear market, but since the whole idea of it being a bear market is based on the fact that STEEM has traded higher, if you take a look at how long it's traded higher and how long it's traded where it's been over the last year or so, it's tough to say this isn't kind of the way it's supposed to be.

Looking back, a case could be made for the fact that crypto hit at least an initial surge of great interest, and just got so blown up that it had to correct, and it's primarily been doing that ever since.

Does that mean STEEM is destined to always trade at $0.13-$0.40 USD? I hope not. Part of the problem is, regulatory issues are still being hashed out, and governments aren't so quick to do that because crypto is still largely unknown, misunderstood, and potentially threatening to the status quo.