Market analysis - 2018 Crypto crash worse than the dotcom bubble
It is getting bad for you if you are someone that bought any cryptocurrency in January, Decemeber, or anywhere near the top of the bull trend. I am sure you want to hear positive news and see something that will make it easier for you to hold strong onto your investment that you once believed in. My positive news to you people is that cryptocurrency is hear to stay, I can't prove it but I know I can say it with confidence despite of the current overall market conditions.
Though I want to believe we are only days away from the next bull run, I have to stay in the reality we are all in.
The market has been crashing all year almost and if you look at the information, it could be one of the biggest crashes for any market in history.
The dive in prices is starting to feel like a drowning plunge, with the market losing 80% of its market value since the beginning of January.
I guess the real positive news is that with that amount of decrease, how could we not be in for the biggest bull run of all time. Altcoins are dying each day and it so it may not be the smartest to buy low into something when you are pretty much hoping for the dead to rise again. I would say that doing your own research is the smartest thing to do. Learn about blockchains and get informed about what a legitimately working blockchain is versus speculation.
To put this market crash into perspective:
The internet was introduced like cryptocurrency, there were believers and disbelievers. Those who were apart of the internet stock boom during this 70% fall in market value were all probably panicking like we all are now.
Ethereum has been dropping rapidly out of nowhere and so have many altcoins. In my opinion it isn't out of the question to see bitcoin eat up 70% of the market value in 2018 eventually if we continue to see ethereum fall.
Some say you can not compare the internet stock boom to cryptocurrencies. I say that it is a good comparison. I think that technology comes and goes in waves as things are updated and upgraded. We will see this happen with internet technology and more with the help of what bitcoin has brought to the table.
Please let me know your thoughts in the comments and don't forget to follow!
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