It sure looks like it. I mean just check out all the FUD that is happening around us, with all the bad news about this China ban on crypto-mining and whichever country is trying to stop someone from trading in cryptos or plenty of other disappointing news. The stream of bad news seems to be never-ending. Even with some positive news, it seems that nothing will really prop up the cryptomarket like the levels in May 2021.
So is the bear market or even “Crypto Winter” coming soon? Well in my personal opinion, I don’t think there will be a “Crypto Winter” anymore. The market should have matured enough not to face another such long term bearish market. Yes sure there will be period of bearish sentiments in any kind of market but I doubt that we will see another “Crypto Winter”. Of course this is not to say that when there is an economic crisis, the crypto markets will not go down. That would be absurd. No matter what is sad, all the markets are still interlinked. You don’t expect during an economic downturn to see other markets rallying right? By the way, Crypto Winter means that the market will drop by around 90% and everything will freeze to death.
Furthermore I am sensing that there is an increased understanding of the various crypto projects out there. More and more traders are realizing that Bitcoin is just one of the cryptocurrencies out there. There are plenty of other altcoins and a lot of them have real use case already. The most obvious would be Ethereum which has lots of adoption already. Just check out their ecosystem and you will understand why Ethereum will not “drop to zero” anytime soon. How about Ripple and their XRP token? Banks and financial institutions are starting to use Ripple for transactions. And do I need to mention Cardano and their token ADA? Countries have signed on to start using their project and we are taking about countries! Sure the developed countries don’t seen to be interested but if countries start using their platform, more and more countries will join as they start seeing the benefits.
So yes, bear market will come and it seems to be happening for the past few weeks. Prices are down and it looks gloomy. And it is very gloomy. Just about days ago, we got another crash and BTC tested the 32k mark again. Although it has recovered a bit, the outlook for the coin seems to be still low. But don’t you find it very strange that with so many institutions and whales buying BTC, the price of BTC is still going down? Very strange indeed. Seems like it is always a bargain when such big investors come into play. Must be magic internet money? And why are whales and institutions buying BTC if Crypto Winter is coming soon? Makes no sense right? Feels like the market is being…..
Anyway I will let you dear readers decide whether it is the bear market currently. But if you feel that the bear market will soon arrive, it might be a good idea to consolidate your tokens and see which will be worth it to see and which will be better off if you hold on to them. I normally track by seeing which has made me some profit and which are still at a loss. Unless you need the funds, why sell them for a loss? That is why I always advise my readers never to leverage. It will led to panic selling and leave you at a loss. I have seen too many of such cases that I know it is a very common problem. There are some “retail” traders who believe that they are immune to panic selling and will make reasonable decisions when they are facing market disasters. Well…it is always possible but honestly I think it is pretty difficult. Hence we always see the huge swings, especially in the crypto market.