Dom – Crypto Speculator
The CEO of Onchain Capital, a cryptocurrency investment fund and advisory service, Ran Nuener, commented about the cryptocurrency market's lack of movement. He tweeted that "most channels and artists have taken a pause, cut back, or even quit in the bear market in an effort to raise awareness of the problem. We're going all in.”
A bear market in the cryptocurrency world is a protracted period during which values fall more sharply and the market crashes. According to historical patterns, the current crypto winter began in November 2021 and is expected to last for a while.
During this time of doom, most currencies were known to have seen severe losses. Bitcoin has fought to maintain its $28,000 price over the last two months. Additionally, up to 60% less has been paid for Ethereum (ETH), Cardano (ADA), and Polygon (MATIC).
The whole cryptocurrency investment world has become static, as Nuener noted. The employment freeze affected big businesses like Gemini and Coinbase. The share price of Coinbase fell by 86%.
Nuener also mentioned that the internet world was intensifying its efforts in an effort to bring back the better times. There are "5 programs a day and now weekend material too," he announced. “Looking back, we can see that the previous crypto winter lasted for two years, from 2017 to 2020. Investors and traders are heavily restrained in their expectations that the present bear market would extend in a manner like to that.”
Since the launch of Bitcoin in 2009, the market has gone through three bear markets, with a nearly 70% decrease from its peak.
Although bear market is nothing new to seasoned cryptocurrency investors, the present winter heightens investor apprehension. Inflation was out of control when the current collapse started, which led the US Federal Reserve and other central banks to raise interest rates.
The present break is considerably more restricting than previous ones, as former market bears were not exposed to similar forces.
However, bear markets are known as the best time to do research and start investing in projects where teams are building and moving forward despite the drawback. So, if you are looking to start investing in cryptocurrency now, one of the most trusted cryptocurrency exchange platforms is BCBitcoin - a reputable Bitcoin broker that lets you buy cryptocurrency with a credit card or bank transfer and has more than 190 different coins available on the platform.”.