How Long Will crypto Bear Market Last? How Low Will Bitcoin Go? Ft Marc De Mesel
Wondering when the bear market is going to end? And how low Bitcoin and other cryptocurrencies might reach?
Well here's an excerpt from my interview with Marc De Mesel that might help answer your questions.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
Whether Marc De Mesel is right or wrong, I’m setting my alert of bitcoin’s price at 3k. If we get there, I will be buying like a crazy. If we don’t get there, I’m happy with my portfolio. No matter what happens this or next year, I’m looking at my investment no closer than over the next 5 years. With that said, any bear market is a great opportunity for us. Can you imagine Steem at below $1.00 knowing we will eventually go much higher? I thought no at the end we will know when the bottom is in when we get huge spike in volatility. When bear and bulls would start to fight. When we get to see at least 1k up and down with high volume.
Oh man this was great interview - I saw the the complete video on your blog here. Thanks for that man :D
Though we might be in the middle of the bear market in 2018 but sooner or later the cycle has to go the other way. I know the gurus were already warning us in December to not buy because the prices were unreasonable. I also remember that after two months of steep climb people still bought alts at an unreasonable price and crash did finally happen after that.
I am hoping that those people would stay in the market long enough to understand that if the keep their patience for sometime the market is bound to find even higher all time highs in a few months/years.
Nobody truly knows the direction of the asset prices because it is still virtually impossible to calculate intrinsic value of them. Prices are now driven by supply and demand so traders are really moving prices the way the want. Without an underlying demand or use case, moves higher will be limited to the supply dumped into the market by traders and speculators. This is trying a tough environment for holders but should ultimately pay off as long as you are in quality assets that will deliver in the long run.
I am afraid that for the moment IMHO, it is a case of "elevator going down" for the crypto asset class as a whole. The flip side of this is that it could be an opportunity to accumulate coins that you believe in. However given the volatility of the asset class we could have a lot further to fall before the trend bottoms.
I... unfortunately agree with you. I say unfortunately because I think it will continue in a down trend before we see a realistic rebound. Am I the only one who feels every time the entire market drops is due mainly to some kind of market manipulation by lager investors?
@gzthesnowman I am sure there is a lot of market manipulation going on but there may also be a simpler answer. .. volatility. Any asset that goes up 20x in one year can IMHO go down 20x as well' Until the crypto market is driven by measurable metrics such as adoption or profits it will always be at the mercy of the next crypto press release.
Absolutely true and currently what we are experiencing if not manipulation. Real world uses will be the future driving factor for crypto so hearing things like XRP signing with big banks, IOTA and VW partnering among other big crypto partnerships is promising for real world adoption. The dark days are almost over... i hope :)
Hi Mr. @louisthomas,
The value of bitcoin has seen significant losses over the last week, following a period of relative stability hovering between $8,000 and $9,000. If it continues its poor form, it could fall below $7,000 in the coming days.
The volatile cryptocurrency’s price has shifted wildly ever since mid-December - when it hit a record high of more than $19,850 (£14,214) - with frequent heavy drops and speedy recoveries. Its price plummet back to earth in January and February, as governments and central banks around the world raised the spectre of future regulation.
Thank You!
Well, Steem is going down and it can get lower and lower, it's time to buy and hold till the markets rise again, never be sad, just wait.
Replying to your comments on BTC from a social science perspective: Personally think too much is made of Bitcoin. The tech behind it is great, but classify it as a currency and/or commodity it won't impact the psyche of society that much. The narrative might change if it ever becomes a vehicle of wealth preservation in times of hyper inflation, or other doom-gloom scenarios. Even if we see mass adoption the post modern society will just adapt to the change within a few years.
Well for me the crypto bearish market will not last that long because what actually caused the plunge in price was because of the hacking of the Korean crypto exchange. I believe that news will fade out and the market will continue to recover from it. Major positive blockchain news will definately drive the price of crypto higher in the coming week @louisthomas
My answer: 3 weeks, 5 days, 19 hours
Real Answer: nobody knows...
Seriously though, good video guys! I like your content.
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