@internetofvalue
9 months ago

Why did we see crypto bear market in 2018?

1 0
17th 2017 at $19,783.
Successful speculators in crypto have posted returns in the thousands and funded the ICO boom. Many lost as the market turned in early 2018 – crypto had its .com moment.
An economist by training who followed financial markets, Erik was initially sceptical about Bitcoin. The more he read about the power to liberate people from governments, central banks and fiat currency the more his views changed until he got the Bitcoin bug.
Erik is one of cryptos greatest libertarian advocates, and often sounds like Thomas Paine.
He is the founder of Shapeshift, a non-custodial crypto to crypto exchange, and has attracted investors like Lakestar and Blockhain Capital, and heavy weight insdustry influencers on the Board like Oliver Bussmann, the President and Co-Founder of the Crypto Valley Association in Switzerland.
Collapse
since the bitcoin bubble burst and other cryptos has gone beyond the RSI 70% which is overbought as per technical analysis, the crypto markets in its entirety has come down. This is a matter of fact as this is a trend reversal of sudden bull markets .
Collapse
I would attritbute it to the sale of $450 million dollars worth of Bitcoins by the trustee of Mt. Gox led by Nobuaki Kobayashi. It is alleged that he dumped almost $10 Million dollars worth every week. And he was advised against it.

Collapse
Because too many people learned about cryptocurrency in short time, everyone thought that is something great, invested just like crazy with their big hope.. And when the big whales start to sell their coins we got the biggest bear market in the crypto history..
Collapse
2017 was full of ICOs. People invested like crazy to make quick buck. 2018 all accumulated ETH and BTC were dumped in the market by these companies to get the fiat.

Many startups did scams too and, ran away with the collected money.

These all were big enough reasons to lead into long term bear market.

Further, the future looks good after such a long correction, right time to get into the market is, Now.
Collapse
There were more buyers than sellers. Early adopters who mined bitcoin with low difficulty made 1000’s of % gains. Even faucets Gabe out 50+ BTC per click in the beginning. Profits were taken. 2019 is the year of accumulation, 2020 we rose
Collapse
I think that crypto went up too high too fast, china banned crypto, mt gox dumped a billion dollars worth of bitcoin on us, there's many things that go into it, a lot of the people who came in during the bullrun lost a lot of money and probably will never return.
Collapse
All of the Hype, Media Coverage, Bubbles, etc in 2017
Collapse
Because the big whales are cashing in on the crypto boom of 2017
Collapse
due to 1. Governments policies 2. Many Crypto fraud happened 3. Media Fud
Collapse