| json_metadata | "{"app":"Musing","appTags":["money","bitcoin","blockchain","steemit"],"appCategory":"money","appTitle":"What do you think are the reasons why the cryptocurrencies have not been able to recover the market value they had reached last year?","appBody":"<p>The cryptocurrency space is a dangerous place to venture into without arming oneself with the proper perspective. The fact that many recent investors ask this kind of questions in anxious anticipation of a new rally is a testament to that. </p>\n<p>The market taking this long to recover is nothing new. Bitcoin, which pretty much was the only game in town before 2015, has gone through several bull-bear cycles like this before. There have been several rallies and subsequent bear markets during which Bitcoin's valuation has dropped to a tiny fraction of it's previous peak. </p>\n<p><img src=\"https://upload.wikimedia.org/wikipedia/commons/0/01/Bitcoin_usd_price.png\"/></p>\n<p>Please take a look at the bubble of December 2013 and the bear market after that. It took over three years for Bitcoin to rally again after that bubble popped. If you believe that cryptocurrencies will have a permanent place in the world, then I don't think you should panic because the current bear market seems to go on and on seemingly with no end in sight. That's how cryptocurrencies behave. They rally violently and take their sweet time to correct in a staggered manner. </p>\n<p>A crypto-correction ends when all the weak hands have been shaken out and all who are left are hardcore professional hodlers who are not mere speculators but who have ideological reasons hold on to their coins. Bitcoin and the rest of the crypto market have been remarkably stable since the summer. It seem clear to me that sellers are gradually losing momentum. This is what an accumulation phase looks like. This is when you stack up on Steem and other cryptocurrencies and wait patiently. Something will light the fuse to the powder keg in the future. When that will happen is anybody's guess. But if you believe in the technology, you must be convinced that it will happen. Just lie in wait and stack up on them coins. Or if you don't have any money to invest, Steem on and accumulate STEEM!</p>","appDepth":2,"appParentPermlink":"pkdw7q495","appParentAuthor":"josalarcon2","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}" |
|---|
hiveblocks