Market Cycle is not new and not unusual
For those who have been in the crypto market for 4+ years, this crash is not new. But for someone who came into cryptocurrency markets in 2017, this should be the worst nightmare. A 25% crash is huge for ordinary traders who do not have experience of Crypto markets. A similar situation arrived during the last bear markets in 2015. While most people panicked in the previous bear market as well, those who could take it positively, eared much more in the long run.
An 80% down for Bitcoin markets is not a big issue, we have seen it before, and it is a part of a “normal” Bitcoin market cycle. If Bitcoin market history is looked into genuinely, an 80-90% crash for Bitcoin is very reasonable. It happened in 2013 when Bitcoin crashed from $1300 to $200. An 80% down for $20,000 would be $4000, which makes the $4000 price very reasonable. Some investors might argue that the cryptocurrency sphere now is different from 2013 or 2015. Many people are suffering psychologically, but to be realistic, the bear markets may last for months if not years.
Bitcoin Cash Drama, Craig Wright becomes the villain
Bitcoin cash has taken a massive hit of 55% in last seven days, as reported by CoinGecko, with a notice by CoinGecko that Bitcoin Cash (BCH) refers to the market trading the Bitcoin Cash ABC implementation.
Craig Wright has been threatening the Bitcoin community that if they support Bitcoin Cash ABC, Craig will sell his BTC and bring the market crash to fund the mining operation of Bitcoin SV.
To all BTC miners…
If you switch to mine BCH, we may need to fund this with BTC, if we do, we sell for USD and, well… we think BTC market has no room… it tanks.
Think about it. We will sell A Lot!
And, have a nice day
(BTC to 1000 does not phase me) pic.twitter.com/oUScEahtWc
— Dr Craig S Wright (@ProfFaustus) November 14, 2018
Stock Market bad Performance
The stock market has also taken a hit, with Nvidia taking the biggest hit from $202 to $144. While people are losing money in the stock markets, people start to capitulate. Capitulation is an integral part of the market cycle to bull market to return. While the markets are depressing, it is necessary to remember that the market price and Technological advancements are not related. While huge market advancements are happening in blockchain and cryptocurrencies, it is best to pass this difficult time by building a solid foundation for yourself or your businesses.