BITCOIN BEAR OVER(MAYBE NOT...?)

#bitcoin #cryptocurrency #blockchain

Being an active contributor in Fintech space, I have always been intrigued by the technological world of crypto and NFTs. However, due to my busy schedule and busy lifestyle, I could only observe the world from afar.?

With all the turmoil going on in the industry, I could not contain my passions and wanted to join the industry not only as a spectator but as a critic/ informant as well. Throughout my time here, I will investigate the market and educate my audience about its details.?

This will be a long yet enjoyable journey, as right now is the best time to get involved in the industry, especially as a spectator.

It is a wonderful opportunity to research the market's lowest and highest points and prepare yourself for an investment opportunity when the tide turns.?

Earlier this year, the entire world was shocked by the devastating crash of the crypto market. There has been no recovery for investors since losing trillions of dollars. Several big names were affected, such as Bitcoin, Luna, Voyager, and many others.

Some companies even had to declare bankruptcies. However, one name remains prominent throughout the long currency winter. You guessed it right: Bitcoin. There have been several contradicting discussions about the future of the famous cryptocurrency.?

This brings me to my topic for today: IS BITCOIN ACTUALLY RECOVERING??

The crypto-market, as well as bitcoin, have been rumored to be on their way back. However, they are rarely supported by any evidence. Hence, I wanted to investigate myself. So let’s get into it.

BEAR MARKET vs BULL MARKET

In order to understand the details of the see-saw of Bitcoin value, these are the two terms you need to familiarize yourself with.

When the value of an industry drops and economically suffers, it’s called to be in its bear phase. On the contrary, a bull market means the company is gaining finances and value with a continuous rise in its reputation.?

It’s safe to say that the bitcoin currency has been experiencing a bear market for the past few months. There was a glimmer of hope for the fans and investors in August 2022, when the market cap started slowly stabilizing itself…but unfortunately, it didn’t last very long.?

THE UNFORTUNATE STATS

According to last month’s reports, things went grim for the currency. Around the third week of September 2022, the coin of the value dropped back to $19000.

This is a depressing value compared to the highest bull market value of $68000 in November 2021. Within the last year, the market has suffered a loss of approximately 70% of its value.?

It is believed that there are several factors contributing to the constant regression of the digital currency industry, including the war in Ukraine, rapid inflation, and high-interest rates.?

As a result, many people are confused about the constant fluctuations and see-saws of Bitcoin prices. Moreover, investors remain concerned about whether or not to sell their investments. Experts, surprisingly, warn against selling your devalued bitcoin currency, but why?

Things Might Work Out…??

If we are to discuss the predictions of Bitcoin and its crash winter, it’s essential to study the pattern and history. In 2017, Bitcoin broke its records and reached the peak of $45000.?

This was a limited bull market phase of the number one cryptocurrency as it was followed by a devastating crash on 27th December, with its market cap falling below $12000.

However, it was not the end. Since then, the coin has recovered massively and gained almost 500% in Nov 2021. The rise was slow, but it succeeded, setting a new record. Unfortunately, within a year, it also fell.

This shows that Bitcoin follows a pattern that rewards its users for a certain time. While the recovery does eventually come, it takes time. Regardless, the resurgence usually results in a price higher than ever before.?

Following the crash in 2017, analysts say that such cycles eventually bounce back and reward patient investors. Even in this depressing age for crypto, many believe Bitcoin will hit $10000 in due time.?

Still, it does not guarantee profits right away. The crypto-community is being warned that this long drought might continue for a long time. The recovery can take years, so investors should hold onto their investments.?

Regardless of the future, it is always fascinating to see how the internet and the economy react to news when it arrives. Hence, I believe the dip is the most appropriate time for spectators to study and observe.

It can make a huge difference when you might want to consider investment opportunities. As for now, we watch and educate ourselves as much as possible.?

Therefore, you need to keep up with the world of cryptocurrencies and NFTs by staying tuned. We have a lot to cover up together!?