Bitcoin, the first largest cryptocurrency, has had it rough since it reached its peak at $19,500. After the 2017 December to 2018 January frenzy ended, everyone was expecting BTC to recover. Unfortunately, it didn’t recover and things only got worse. Right now, BTC is hovering above $4,000 and there is no saying when another bear grip will take the price below this level.
As expected, some experts have given their opinion about the current bear market and most of them don’t think it’s going to end soon. While BTC may find stability short-term, it’s going to take a lot of long-term effort for it to get to its all-time high of almost $20,000.
Statistics have shown that retail investors lost the most during this bearish market. This is why the major sell-off was no surprise. What’s more, these small scale investors are less likely to return to the market any time soon. Only older clients who believe in the industry will most likely remain.
The loss investors suffered didn’t just affect them financially, it also affected them emotionally and well. Imagine a new investor entering into the market when the price was as high as $19,500 and remaining in the market until it fell to as low as $4,200 and even lower. This can have a serious psychological effect on a person.
As expected, some experts have given their opinion about the current bear market and most of them don’t think it’s going to end soon. While BTC may find stability short-term, it’s going to take a lot of long-term effort for it to get to its all-time high of almost $20,000.
Statistics have shown that retail investors lost the most during this bearish market. This is why the major sell-off was no surprise. What’s more, these small scale investors are less likely to return to the market any time soon. Only older clients who believe in the industry will most likely remain.
The loss investors suffered didn’t just affect them financially, it also affected them emotionally and well. Imagine a new investor entering into the market when the price was as high as $19,500 and remaining in the market until it fell to as low as $4,200 and even lower. This can have a serious psychological effect on a person.
Note
Bitcoin breaks above green line and shows signs of strenght.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.