The Crypto market is known as highly volatile which means we can expect 10-15% of price fluctuation quite often. Sometimes the market seems stable and then after some time we get to see some bigger dip in the market and all of this is so common. When the bitcoin price falls then altcoins also follow a similar trend however it's not always.
After the Luna incident, we have seen the market crash and the bitcoin price dropped from 42k to 30k it was gone down even further but there was some recovery. Now, this is a common question that has been asked if we are in a bear market and if this is a bear market then how long it will continue. Bitcoin price is trading in the range of 30k USD. Here is the bitcoin price chart and may month is not good for sure and the reason is the Terra project behind the crash. Bitcoin even touched the 48k USD mark in April and in may month it has been falling consistently. Seems like there is good support at 29-30K USD but if it drops then probably we may expect more dip in the price.
It's difficult to predict how long this will continue as it's a market and we never know how the market will behave the next day. It's not good for the people who are here for the short term but those who have spent 2-3 years are well aware that this is not the first time. In fact, this is a good time to accumulate more so that when the market grows then that investment will bring better returns.
This is a good time to follow discipline with DCA because this helps us to buy more quantities of coins. It's suggested that there should be some add-on investment along with regular when there is a big dip or crash and I am following the same. With the Tera Luna incident, there is learning that we need to invest in leading and reliable proje3cts only and not the ones offering something unusual like UST was offering. I invest in Bitcoin and Ethereum along with hive tokens as I am not a pro so I try to stay away from projects of which I am not much aware. Research is always suggested before investment because without study it's not good and may lead to a loss but again any investment always comes with a certain amount of investment.
Thank you so much
Stay Safe
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We are definitely in a bear market and will remain so as lond as the Fed is raising interest rates.
I fear many financial institutions pumped borrowed money into crypto, and now rates are rising they're selling to repay the loans.
both inflation and interest rates will sky rocket. There will be nowhere to turn, the death of fiat will be messy as hell. Those with bitcoin and gold may hold up better than those without, but then people with just ammunition and farmland will probably do even better.
Does it really matter?
Isnt that like asking a fish which ocean it is in?
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Its does not matter and you are right.
We need to be focused on accumulation and this is what that matters I believe.
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Yes seems like we are entering the bear market, time to accumulate more
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I agree that this is time to accumulate more.
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I believe we will have bear market months
Good time to accumulate more
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In your opinion, what are the coins to accumulate now? I thought I'd get a little bit of HIVE
Hive is definitely a good choice.
I share my list here but please check before you invest.
I invest on
SPS
Matic
Leo
along with my regular investment of bitcoin and ethereum.
Yeah! I love SPS and I think I will buy more HIVE. I’m gonna make my own research about LEO
It's been a bear market for a while. Now is the time to buy more crypto. Perhaps can buy more and stacking !
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Yes I do the same
I don't know but the economy isn't that great right now and the supply chain issues haven't been solved. So I feel that we are entering recession territory and I think crypto will go down due to the correlation with the stock market. I do feel the price will have less manipulation over the next few days because option expiration is over.
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I kind of agree with you that crypto will go down but I consider it as a good time to accumulate more. I know that it's not easy for everyone but this is what it is. Thanks
it's useful to try and look at the bigger picture:
https://peakd.com/hive-167922/@tobetada/crypto-analysis-or-bitcoin-3rd-wave-or-half-way-through-the-bear-market
In my chart, we entered the bear market last November. What we are experiencing now is the last leg. I may be wrong.
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Let's see how long it survives and what is the bottom range it touches
I expect it's more of consolidation to establish the base rather than a deeper dive.
What happens next? It's easy for every bear market to seem like the end of the world, as nervous traders anxiously eye a sea of red. But to date, every huge bust has been followed by an even bigger rally. It's just a question of when the recovery begins.
A bit overrewarded.
ok, I respect your DV. Have a nice weekend.
All I see a bear market and we should ride with the trend and seize every opportunity in this market
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its basically like a domino rally. It builds up, gets unsustainable and then one domino falls. It takes loads out but then stops and people gingerly rebuild it again. Usually as time goes on the domino chain gets bigger.
Crypto has pulled everyone in by now, a large percentage of people know about and have skin in the game. There is nowhere to go now but down and personally the element of surprise has gone from this market. Everyone is TA experts, everyone thinks they know whats going to happen based off what happened in the past. Markets only survive and thrive when most people get it wrong. Down we go for a long time to the point where most people suspect that it wont ever happen again. It usually does in the end but this market is 100 percent speculative, ie anticipation is the driving force behind it.
Next bull market will suck ever more than this last one in that it will be front run well in advance and the plug pulled even sooner and quicker than before. This will continue for decades but by which point bitcoin may well be hundreds of thousands of dollars and eventually stable. While Altcoins are not even a thing just known as startups and like tradition finance VC because they are centralised and thus flawed by humans.
This is the sad truth that nobody wants to hear or take into consideration because it goes against all their hopes and beliefs.
Great analysis and thought about the market and current market situation is the same that you shared here. I agree that now we have more people who know TA and earlier it was not like this and because of this probably the next bull run might not be the same as we witnessed before. Despite all this, I expect that Bitcoin will cross 100k$ in the next bull run cycle. Thanks for sharing your valuable comment.