8 signs of a bear marketPosted on: July 14, 2018, by : Dan Muresan
When the crypto bear market started, some people said that bitcoin is going to zero. But people said that many times in the last 8 years, go check it out. A lot of crypto negativism was spread all over the web. Everyone was emotionally involved and shocked when our latest bear market begun. But few remember the price BTC had a year ago. Or at the beginning of 2017, compared to the end on 2017.
People who begun investing in crypto in the last months of 2017 had no idea about risk management, securing profits or what is a bear market. We were in a bubble that came up because everyone was crazy about getting rich very fast.
Here are 8 reasons that were signaling that we were in a market hype; in a bubble that was going to burst soon, turning into a bear market:
GPU prices were going through the roof
Market cap was growing very fast and all coins were getting huge gains
People were getting into debt in order to buy cryptocurrencies
They were also buying bitcoin with credit cards
Transaction fees were huge and networks were getting clogged often
CBOE to launch Bitcoin Futures
CME Group Bitcoin Futures
Crypto Kitties hype
Looking back, detached, it seems too much, isn’t it? You can always look for similar signs each time you see a lot of market hype and action in price movements. It’s a time when you know that a correction will come. And, again, it’s normal for any market to go through this.
It doesn’t mean you shouldn’t invest in blockchain technology. Cryptocurrencies will bring us great profits. It’s a huge potential and we are just getting started. It just takes time.
Do you have any signs of a bear market in the coming months or years? Crypto or fiat related? Leave your thoughts in the comments below.