The Bear Market Cannot Last Forever Says Cryptocurrency Trader
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The cryptocurrency trader @Galaxybtc wrote on Twitter that the bear market in which we are cannot last forever. His comments are very important since the crypto space has been in a bear trend since December 2017. During 2018, virtual currencies lost more than 80% of their value. In some cases, tokens lost more than 99% of their price.
Bear Market Cannot Last Forever
@Galaxybtc seems very positive about the future of the space. He wrote on Twitter that we have more than 411 days in a bear market. This is the longest bear trend since Bitcoin was born ten years ago. Additionally, there is no clear date for this bear trend to end.
Bitcoin was traded around $20,000 back in December 2017. At that time, the hype in the market was very high. Indeed, everyone believed that Bitcoin was going to reach $100,000 or even more. Nevertheless, this didn’t happen. Bitcoin plummetted down to $3,250 in December 2018. That represents a price decrease of 82%. Ethereum (ETH), XRP and Litecoin (LTC) experienced similar trends during the last year.
Bloomberg reported that Bitcoin registered six months of consecutive losses for the first time ever. Since August, according to data from Dow Jones, Bitcoin has been falling each month.
Alex Pack, the managing partner at Dragonfly Capital Partners, said that although the price is not showing it, in 2018 Bitcoin achieved a major milestone. For him, it is a milestone that Bitcoin has a non-zero chance that it will always have value. Jameson Lopp, the CTO at CasaHODL, mentioned that Bitcoin had a very good year in terms of fundamentals. He took into account for his analysis the development of the Lightning Network (LN), Bitcoin’s Hash Rate, and many other things.
Visit - https://t.me/btctradingclub
The cryptocurrency trader @Galaxybtc wrote on Twitter that the bear market in which we are cannot last forever. His comments are very important since the crypto space has been in a bear trend since December 2017. During 2018, virtual currencies lost more than 80% of their value. In some cases, tokens lost more than 99% of their price.
Bear Market Cannot Last Forever
@Galaxybtc seems very positive about the future of the space. He wrote on Twitter that we have more than 411 days in a bear market. This is the longest bear trend since Bitcoin was born ten years ago. Additionally, there is no clear date for this bear trend to end.
Bitcoin was traded around $20,000 back in December 2017. At that time, the hype in the market was very high. Indeed, everyone believed that Bitcoin was going to reach $100,000 or even more. Nevertheless, this didn’t happen. Bitcoin plummetted down to $3,250 in December 2018. That represents a price decrease of 82%. Ethereum (ETH), XRP and Litecoin (LTC) experienced similar trends during the last year.
Bloomberg reported that Bitcoin registered six months of consecutive losses for the first time ever. Since August, according to data from Dow Jones, Bitcoin has been falling each month.
Alex Pack, the managing partner at Dragonfly Capital Partners, said that although the price is not showing it, in 2018 Bitcoin achieved a major milestone. For him, it is a milestone that Bitcoin has a non-zero chance that it will always have value. Jameson Lopp, the CTO at CasaHODL, mentioned that Bitcoin had a very good year in terms of fundamentals. He took into account for his analysis the development of the Lightning Network (LN), Bitcoin’s Hash Rate, and many other things.