Respected Bitcoin Investor Claims a Few-Month-Long Crypto Bear Market Could be Incoming
- Independent altcoin analyst ‘CryptoCred’ recently took to Twitter to warn his followers about the dangers of investing big in BTC right now.
- In his opinion, the coming few weeks could see the dawn of a new bear market that could last a couple of months.
As many of our readers are probably well aware of, since the start of the year the crypto market at large has been surging — with premier alt-assets such as Bitcoin demonstrating the growth of around 125%.
However, there are still a few experts who are treading the altcoin investment terrain with extreme caution. For example, an independent analyst who goes by the name of ‘CryptoCred’ on Twitter recently posted the following message online:
$BTC looks strong.
When Bitcoin is making rapid gains, it becomes harder to outperform it (margin trading, altcoins, et cetera).
One of the best plays from the bottom was to do nothing at all.
Too much bear market PTSD — it’s okay to just watch your spot $BTC go up in value.
— Cred (@CryptoCred) May 27, 2019
CryptoCred then went on to state that a bear market might be incoming and thus it might be best for investors to refrain from indulging in any heavy trading activities. In his opinion, it is far more important to manage ‘spot exposure’ than ‘try to squeeze an extra few % from the market via alts, margin right now.’
In closing out this piece, it should be pointed out that even though premier cryptocurrencies such as Bitcoin, Ethereum, EOS have gained a lot of value over the past 60 days or so, it is still unclear as to whether BTC will be able to scale up to its former ATH value anytime in the near future.