Cryptocurrency bull market cyclesPosted on: July 2, 2018, by : Dan Muresan
Cryptocurrency bull market cycles are a mistery to most new investors in crypto. In December 2017, when BTC was selling at almost $20.000, everyone was talking about it. It was the year when cryptocurrencies got most awareness and more and more people started buying crypto. There was this idea that everyone will get rich very quickly. Some people were buying BTC at $19.000, XRP at $3.
It was crazy, you probably remember it and maybe you bought at those prices. But that is not a problem. The problem would be selling at a loss, and getting angry and disappointed. The problem would be not appreciating the blockchain technology because of that.
People were following just one goal, to get rich quickly, at the top of a bull market.
Being new into this, throwing all your money in it, and going through the bear market that started in January 2018, confused many people. Many left. Maybe that was a good thing, the market got rid of those who were in it only for the money, and not being interested in the potential that blockchain has.
Don’t get me wrong, we are all in it for the money. But we are doing it because we value the libertarian principles. Meaning the governments should have limited interference in the economy and in the lives of the people. The monetary system should be free and all decisions taken by the people.
After all, the blockchain technology is a decentralized system representing a libertarian construct.
There is no need for someone to mediate and watch over our money and our transactions. It allows everyone to be in absolute control of their assets, their cryptocurrencies.
You probably know the term of bull market (prices go up, good market sentiment, every price of any coin increases). Bear market is the opposite, markets go down and market cap is decreasing. Everyone is selling, coins go down. Usually bitcoin prices dictates all other crypto prices. It’s a temporary thing, in a couple of years it won’t be like this.
In 2017 we witnessed a huge price increase and many of the investors were at their first investment ever.
It was the first time they put money into something, facing a bull market never seen before. It was a cold shower seeing price drops and the correction that followed in early 2018. Everyone learned the hard way that markets go up and down. Some got to despair and sold everything they had (all crypto assets), at a loss. Forums were complaining all over the internet about selling their houses or cars to invest in crypto. Or borrowing money. All off these during the 2017 bear market. All of these were huge mistakes.
Now, since January 2018, we are in a bear trend and people are shocked, they don’t understand what is happening.
Why is the price going down? Sir, why no moon, lambo?
The thing is, everyone forgot the bull trend from 2017 and the growth we already had. It was obvious a correction will come. It’s natural and safe for the markets too see a price relaxation.
Everyone who was making a lot of noise in 2017, when we were on a bull trend, are now silent. Everyone who was chasing only high gains, not being interested in the actual technology, is disappointed. Paid signal groups and experts are all silent.
But some of us are still here, writing about blockchain so more and more people can learn about it.
And knowing what that it’s one in a lifetime opportunity. While writing this article BTC price is $5.882 and disappointment is everywhere. But I am more optimistic than ever, even if I know the price will go a lot lower before getting to new highs.
It is just the beginning, come and join the crypto revolution!