بتكوينتعليم
Bitcoin Bear Market History
This graph shows the previous correction cycles that bitcoin has experienced. Given this data, I personally believe this current bear market could extend for another year, going well into 2019. This also shows that bitcoin has experienced 80%+ retracements in the past, which is normal market behavior for this asset. Bitcoin has recovered from extended corrections in the past quite healthily, and I fully expect it to do so yet again in the upcoming years.
The technology is growing at break neck speed, there are countless new developments happening every day. In terms of technology and the community, the space is extremely bullish. The blockchain industry has world changing ramifications and the vision of this potential is only gaining clarity. The health of the infrastructure has never been better. However, this currency market is a speculative market in nature, people get very excited about world changing technology and struggle to determine value. Therefore the market is for the most part based on speculative value, and is subject to the emotional psychology of a market cycle. 20k was obviously euphoria, and I believe we are now in the phase of panic which leads to capitulation.
I think there could be countless catalysts for a reversal, but one that has correlated with previous cycles is the bitcoin halving. The next one will be in mid 2020. For those who are investing in the space, the next year or so while the market continues to fall and looks for new support, is the perfect opportunity to do research into the space and find projects worth supporting. This time can be spent finding projects with true virtue and promising technology. I know those who did this in the last bear market where big winners in the 2017 bull market, and could decipher a legit project from a money grabbing shit coin. When investing it's important to remember the movement of decentralization, and what it stands for. Cryptos are an opportunity for the world to redefine money however we would like, let's not centralize it again.
The technology is growing at break neck speed, there are countless new developments happening every day. In terms of technology and the community, the space is extremely bullish. The blockchain industry has world changing ramifications and the vision of this potential is only gaining clarity. The health of the infrastructure has never been better. However, this currency market is a speculative market in nature, people get very excited about world changing technology and struggle to determine value. Therefore the market is for the most part based on speculative value, and is subject to the emotional psychology of a market cycle. 20k was obviously euphoria, and I believe we are now in the phase of panic which leads to capitulation.
I think there could be countless catalysts for a reversal, but one that has correlated with previous cycles is the bitcoin halving. The next one will be in mid 2020. For those who are investing in the space, the next year or so while the market continues to fall and looks for new support, is the perfect opportunity to do research into the space and find projects worth supporting. This time can be spent finding projects with true virtue and promising technology. I know those who did this in the last bear market where big winners in the 2017 bull market, and could decipher a legit project from a money grabbing shit coin. When investing it's important to remember the movement of decentralization, and what it stands for. Cryptos are an opportunity for the world to redefine money however we would like, let's not centralize it again.
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