The Nuclear Bear Market & 95% Of Coins Will Die!

chesatochi (72)in #cryptocurrency • 5 years ago

Introduction

Lately, I start to feel the effect of this long crypto bear market and the pain on every type of business in the crypto space. It even affected my moral to write something because of my lack of motivation and enthusiast. I believe it is a good indicator that the market is not yet mature for the mainstream and we are in a phase of correction.

It is unbelievable the number of scams or projects that promised you the moon in 2017. This made the space in troublesome and created the effect of where we are today. The technology was not ready to handle so many transactions at the end of the last crypto bull run. People invested blindly without understanding the root of technology! I remember the type of question people asked on Reddit or Quora:

What are the coins that will reach x100?
What coins do I need to invest in?
Tell me what tokens I should buy?

And the list goes on...

This was the speculation phase to make a quick buck. We live in a world where we see the mentality of competition and keep the belief of scarcity concept in mind!

Scarcity and speculation

The crypto space is crowded with people with just the idea to make a quick buck and profit and this is their main motivation. I believe it is important to have them because it helps to bring money and grow an industry. A side effect also brings bad actors and people with not a true intention in their mind.

Those folks create coins with the only purpose to pump them, then investors remain with a useless coin. What do think they will be their perception? A really bad mood, anger, emptiness in the heart to have the feeling to have been raped!

Another point that I am tired of this speculation phase it the scarcity of coins in mind. Everyone shills their coins with the focus that their coins will reach the moon and the supply is low so the outcome the price might get higher.

Speculation and gambling are fun temporary but not sustainable for the long-term grows of the crypto space.

The crypto bear market

The bear market is a direct action of bad actors and speculators in action. Many people have lost so much money in the process during the high in December of 2017. The rapid growth of Bitcoin was not sustainable and central powers put a plan to slow the progress of crypto.

At the beginning of 2018, we saw the attacks from Facebook, Google, and many centralized social networks. They have been pressured to act this way, to change the perception of people and to create panic to sell their crypto on lost!

We are almost 14 months on this nuclear bear market and the downtrend movement does not seem to be done. Most of the altcoins have lost almost 90% to 95% of their value during this bear market.

Many businesses start to cut on expenses and staff to be able to survive and stay above the water. It is not easy, even for me, to make an income from this crypto blog and have the motivation to produce new contents. To be honest, this experience showed me that every industry needs to pass through those hard times. Great companies will emerge from this thunderstorm but which one is a good question that nobody can answer.

95% of tokens will die

It is a great fact that many of the coins available on the market have no purpose. Developers can build a great project without the need for decentralization or create a coin.

It is always important to ask yourself the question: will this coin bring something to the world? Without any purpose, your coin will decrease in value and you will see a lack of liquidity. This can cause the slow death of your project or idea that supposedly will revolutionize the world!

At this point, we have over 2 000 coins and I lost interest to try to find the good gems. For example, I am very active on the Steem blockchain because I know the real value of this chain that will stay alive during the long crypto bear market.

Always invest your money on a product you use every day or bring value in your life. The majority of the projects in the crypto space, unfortunately, does not bring value or a good MVP from day one.

2019 and beyond

Only the great projects that have a strong use case and a product that you can use will survive. The mainstream population phase has started and I know, deep in my heart, the best is to come. The tsunami and dark forces cannot stay in permanence in our head. The true believers and holdlers will have a smile on their face for having been patient and to always kept believing.

I saw so many people leaving the crypto space and many more will leave. On my side, I will keep pushing harder because I still believe in the true potential of crypto.

Last word

The nuclear bear market is not yet over and it is really hard to keep the momentum and focus on the true potential of crypto. In the meantime, the development is increasing and technology improves rapidly. We might be in a correction phase but the great foundation is being made as we speak for the mainstream phase.

I believe the best is near for my passion of this space!

Yours, Chesatochi

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