When is the next bitcoin bull run?A reflection for the bulls in a bear market Picture by Andre Francois on Unsplash I like that particular ideas
can be expressed clearly in one word. I like the word’viewpoint ‘so much. Viewpoint is so crucial in today’s world, specifically when we think about the new pattern of decentralization. Every decision is based on psychological judgment and mental judgment is based upon viewpoint. Everyone declares to be right and their claim is based on details. The details doesn’t have to be false for the judgment to be wrong. Bitcoin is listed below$7k, it’s time to make fundamentalists of speculators.When bitcoin decreased to$6k earlier in the year then returned to $8k, many thought they had actually seen the worst
. Then, it had a hard time to stay over$9k. And since composing, it’s back on the$ 6k level. This level appears unfair to traders (or speculators)who purchased in at $12k (and above ). Naturally, I got in too throughout those periods but it wasn’t fomo. I was going to get in during that time regardless of the price (just as I am still entering today at the$6k variety). Cryptocurrency, from my viewpoint, stays a thing of the future. Yes, we are currently seeing the truth but the advancement and complete adoption will be slower than many very first thought.In the peace and tranquility that features the bear market, I chose to browse some insights and browse perspectives I have not focused on
. This is not the first bearishness in crypto. Exactly what occurred during the previous bearish market and exactly what was the marketplace trend?It started in November 2013. Bitcoin cost was about $1.2 k. An all time high at that time. And after that the plunge started. Initially the Mt. Gox concern started as a rumour, however then it ended up being verified and a truth. The price of bitcoin sank to$ 600. And after that continued into the abyss in the following weeks and months. At one point, it was as low as $110. Believe about it; something that was once worth $1,200 now became$110. That’s more than a 90 %drop! How bad has it gotten in 2018?$ 20k at all time high to$6k (which is the most affordable up until now, I believe). That is still a drop of 70%. Am I saying you should be grateful that things are not worse? No! I am just providing you some viewpoints here.The other point that truly got my attention was the amount of time the worth of bitcoin stayed below it’s all time high after the $1,200 at November 2013. Throughout 2014, it was gloomy. There was no much uptick in 2015.
Bitcoin began gathering momentum once again in 2016. The all time high of 2013 was reached again in March of 2017. That is 4 excellent years. Obviously, the rate roamed as high as $750 throughout this 4 year period, however it was not convincingly over that rate. So, if you bought the top in November 2013, you had to wait till March 2017 to break even.If we mirror this event of November 2013 to March 2017 over what the market is experiencing in 2018, you will get a classical perspective to this bearish market. Yes, the market is certainly larger than it was 4– 5 years back, however the basics
remain the same. I don’t think the drop will be up to 90% (I believe 70 %is reasonable enough)but it could drop lower. Something I am specific of is that this bearishness is not ending anytime soon. If it took about 40 months to obtain back to the all time high in the previous bearish market, it might take at least a quarter of that for this market to obtain back at the level all of us cheered about. Personally, I have actually set my mind to January 2019. Not necessarily to see bitcoin at$20k, but to see the bulls take control of completely. It could take longer, but this bearishness should not last up to 20 months.This is the time for the hype to die down and real information to acquire more ground. There is blood on the streets, so it is definitely a great time to purchase. It matters what you buy. I am certainly not selling any severe stakes in my crypto assets for now. And I can hang on for as long as I desire.
That is the real definition of ‘money you can manage to lose ‘. In the genuine sense of it, nobody has loan they desire to get rid of. However if you need to sell in 6 months or less, you are not playing smart.The key to winning in trading and investing is to buy low and sell high. If you cannot wait on permanently, you will buy high and sell low. The last time it was 4 years, let’s hope it’s listed below 2 years(or much less) before $20k again. Simply to keep in viewpoint, we are still 4 months in on this bearish market. Brace up!P.S. You can get in touch with me on Twitter here