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Question asked on Musing.io by josalarcon2

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· @josalarcon2 ·
$0.44
Question asked on Musing.io
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properties (23)
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vote details (2)
@anonsteve · (edited)
$2.38
What do you think are the reasons why the cryptocurrencies have not been able to recover the market value they had reached last year?
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properties (23)
authoranonsteve
permlinkp3txf52l5
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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.&nbsp;</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.&nbsp;</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.&nbsp;</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"}"
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vote details (4)
@aussieninja ·
$2.24
Question answered on Musing.io
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properties (23)
authoraussieninja
permlinkfkzh4w49x
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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 highs of last year were irrational mania... basically all the people who were worried that they were missing out jumped in right when the big players were getting out...&nbsp;</p>\n<p>The problem with all markets is that there are people/companies with so much money to throw around that they can cause markets to go in any direction they like, and they're very good at getting benefit out of that.</p>\n<p>The other problem was that CoinMarketCap had included the Korean exchanges within it's record keeping, and those markets were absolutely crazy, but they weren't related to all the other exchanges anyway (usually if one exchange has a high price then people will try to make money off that - it's called Arbitrage)... so the total market cap for cryptocurrency seems a lot worse than it actually is... we aren't comparing apples and oranges now.</p>\n<p>The thing is, personally I hope the markets don't recover for another year... I would love another whole year to slowly accumulate crypto at these prices... we are very, very lucky to have this opportunity. &nbsp;If BTC was still nearly 20,000USD, we'd only be able to buy very small amounts...&nbsp;</p>\n<p>You can never tell what a market is going to do... you can guess, and you can add odds and percentages to likely actions, but you can never tell exactly what it's going to do... but I do think that soon cryptocurrency will start to see more and more money invested into it. &nbsp;Blockchain technology is tackling a whole heap of real world problems, and the functionality of Bitcoin and other cryptocurrencies is improving every month.</p>\n<p>I personally think that retail investors (you and me) and institutions (banks, financial firms) are all waiting to see how the US government intends to regulate digital assets. &nbsp;Once that question is answered, we could very well find a very exciting market... at which point I doubt I'll be able to afford to buy anymore.</p>\n<p>Good luck!</p>\n<p><br></p>\n<p><br></p>","appDepth":2,"appParentPermlink":"pkdw7q495","appParentAuthor":"josalarcon2","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
created2018-11-03 00:43:15
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vote details (1)
@cryptoandcoffee ·
$0.45
Question answered on Musing.io
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properties (23)
authorcryptoandcoffee
permlinkf36sbf4l5
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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>No. we are all on hold till next year when the financial Institutions start to invest in the first quarter next year.</p>\n<p>I wish they wouldn't just yet because another year or two at these prices would be perfect for accumulating Steem. I don't have fortunes to invest and as long as the prices are down it is easier to grow.</p>\n<p>I don't understand everyone's rush as the crypto currencies are still in its infancy. A year or two at these prices would be ideal because once the investment Companies climb in it's going to be too late and then we will see the prices that everyone has been hoping for. that could happen from March next year but I really hope not.</p>","appDepth":2,"appParentPermlink":"pkdw7q495","appParentAuthor":"josalarcon2","musingAppId":"aU2p3C3a8N","musingAppVersion":"1.1","musingPostType":"answer"}"
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vote details (3)