hdon94

The BTC (Crypto) Bear Market

BITFINEX:BTCUSD   Bitcoin / Đô la
Bitcoin             and the crypto market as a whole have been in a bear market ever since the Dec. 17th high. How long will it last? Where is the bottom? The truth is no one knows for sure, all we can do is look at the charts and to be honest come up with an educated guess. IMO             I don't think we have bottomed yet, I would not be surprised if BTC             made a 100% Fib retracement and retested the low set on Nov. 12th. As we have seen so far, where BTC             goes so goes the rest of the market so IMO             it will be a while (weeks/months) before we see an end to this bear market. Long term (years) I remain very bullish on the whole crypto market, IMO             what we are experiencing right now is a very healthy thing for the long-term sustainability of the cryptocurrency markets. I am sure that many of the critics who have called cryptocurrencies a fraud, Ponzi scheme or said they are just a bubble like tulip             mania which will eventually pop are celebrating this price correction. As I stated in the blog post below, these individuals are using the bubble label too loosely, most likely in an attempt to discredit the cryptocurrency markets. IMO             a true bubble is driven by nothing but hype, the asset really has zero value and when they pop there is no recovery, its lights out - end of story. Just looking at Bitcoin             alone we have seen numerous times where the price has run up to (at the time) extreme leve