Digital Blood in the Crypto Market Streets is Real: The Aftermath of the Bitcoin Bottom Falling Out
The crypto markets started 2018 with a roar. Now it seems that they will end the year on a low note. The markets have been grappling with a bear run since March and it got particularly bad this past week when Bitcoin fell below $4,500. As expected, the reactions have been hysterical – they have also been mixed on both positive and negative ends.
Bitcoin holders are suspiciously quiet about the recent price drop. Twitter is quiet and other forums have minimal chatter. The mood is somber mostly because everyone is sad about the recent developments. With prices having dropped over $1,000 in such a short time, most people are counting their losses. Those who are optimistic enough are holding on to their investments in hopes that prices will rebound sometime soon.
As expected, most Bitcoin holders are panicking left, right, and center. Some people have lost thousands of dollars – others even more considering the buying craze that came following the previous Bull Run. Those that have been hardest hit by the recent development are selling their Bitcoin and essentially bowing out of the game. Many people are essentially cutting their losses.
Ironically – albeit naturally – the market’s move to sell off Bitcoin is further fueling the bear run and causing even further dips in prices.
It Is All A Scam
There is never a dull day on the cryptocurrency markets. Prices are incredibly volatile – for instance, Bitcoin’s price surged dramatically over such a short time that it essentially paved the way for the crypto markets. Expectedly, crypto investors deal with a lot of upsets on any given day.
However, the recent dip in prices seems to have been the last stroke as many investors have come to a conclusion – it is all a scam!
As always, there are those who profit from a crisis like this. To this end, there are those who are actually happy about the recent turn of events.
While some are selling others are buying in anticipation of a bull run. They see the recent drop as the ideal signal to get in now – most of those buying at the moment regret not doing it earlier before the previous Bull Run began.
There are also those who were expecting the ongoing bear run – Arthur Hayes, CEO of BitMEX predicted this very moment months ago. These have the most to gain from the recent crisis – that is if they had entered short positions in time.
What Does The Future Hold?
The current bear run is expected to persist till 2019 – some analysts even argue that it may go on to 2020. What’s more, some analysts have predicted that prices may dip to as low as $2,000 – this was also one of Mr. Hayes’ predictions. As such, the near future is quite grim not only for Bitcoin but other cryptocurrencies as well.
As expected, most Bitcoin holders are kicking themselves in the head following the recent dip. Many have sold out their coins and some are holding on in hope that prices will rebound. However, all signals point to worse times ahead.