Why The Current Bear Market Seems Different
A lot of crypto faithfuls are going through a rough patch and some are even beginning to criticize crypto, I wouldn't blame them, crypto has a way of turning faithfuls into skeptics. It's the same with the hive blockchain. A lot of people are beginning to be impatient especially when it comes to hive, and this is probably because they feel hive isn't growing at the expected pace.
However, this sentiment is majorly driven by price. People would latch on to development and growth when the price isn't favorable and they'll forget this when the bull market comes, it's a repetitive process. However, this bear market seems different.
The reason it's this way is that the world is generally experiencing an economic decline, and crypto seems to be the scapegoat because some people felt it shouldn't be affected. Apart from that, many governments are trying to tax, sanction, ban or control crypto. This has created a negative vibe.
We haven't heard about a big announcement lately regarding crypto or new money coming in and this might be disturbing especially for people who are trying to predict the next bull run. However, there's always a phase like this at all times, in this video I talked about why crypto is an obvious risk as this is the high point of the video.
Interested in some more of my works?
The Intrinsic Propensity To Spend Money
Poverty: The Unwillingness To Spend?
A Scenic Bathroom Photoshoot
The Importance Of Having A Contingency Money Plan
Translational Value; What Is Your Worth?
Using Crypto As A Means Of Transferring Will
▶️ 3Speak
Rightly said! Crypto has been experiencing tough times, and as part of the global economics, it's expected, as it shouldn't be much shielded against economic downturns like fiat.
The people who invest in cryptocurrency are the same as those who live off my expending fiat. If the world economy improves, crypto is bound to improve.
However, there's hope that crypto will adjust at a faster rate compared to the general economy.
Yes crypto id bound to see a massive boom when this is the case with the world's finance, although it's not tied to it though. generally there hasn't been a lot of new money coming into crypto like we saw with El Salvador, I hope this eventually changes with time. It's been drab over the months.
It does boil down to the personal impact of crypto on an individual, what should money be and how would you like money to be are some of the factors to look at, with the "why" identified all kinds of FUD or market conditions shouldn't cause doubts for us since we know what we are dealing with.
Posted Using LeoFinance Beta
Haha FUD will always be a thing. It's human emotions Vs their rationale. I feel that we can set out to not be affected by the general vibes of the bear market, but because money is at stake it's impossible to detach that emotion.
Truly said mainly I think the major cause of crypto bear market is the government efforts on trying to ban, regulate,and tax crypto which day have been trying hard to do.
You are right bro, in the aspect of crypto, mostly hive, there has been some confusion which is making mostly everyone doubt. Even some would think it is breaking apart just because it is not bringing forth what they expected
You are right that it is different this time...the main difference is that crypto is actually holding up pretty good, considering the regular markets have been crashing for months now..👱♂️
Yes, the regular market has been crashing and I sort of feel like crypto has been taking a heavy bashing, but then, we're still not in the worst case scenario because I feel the bear market has hit it's depth. I hope the positive feeling returns and new money can come in
!PIZZA😎
The bear market is close to the end and frankly, it hasn't been that awful. I guess it was like that because I was expecting it to come. Not necessarily at the time it arrived, but it was clear we wouldn't escape it.
I hope it's close to an end like you've said, well it hasn't been too bad for hive, everyday we see a new dip in bitcoin and it takes the altcoins down with it it.
I have a different approach to the bearish market. It may sound funny but I am someone who just lives as the day goes by without bothering about the crypto. I am yet to understand anything about the crypto world. All I do is come here, engage and leave to do my usual task outside #hive.
Whenever I have a pressing need and I need to use some #HBD, I withdraw and move on. I guess that's why I am not somewhat bothered. On the other hand, just maybe I don't even know what I am missing too.
Weird right?😂
Not weird in any bit.
The mistake many make even me is to see a drastic impact crypto would have in their lives from the ground up. Truth is having something in real life adds to crypto anyway as crypto is an opportunity for all and they can still win however they play.
One thing for sure is that crypto is deeper that how it was perceived...
Well one thing I've always hoped for is that crypto keeps evolving, it has come a long way thus far.
Posted Using LeoFinance Beta
A really long way to go still...
I just live as the day goes by too, the bull market might take longer to be here, but I've made my peace with it and accepted it wholly. I just go buy without letting it affect me, however, there are people who would be duly affected because of the depth of their investment and it's crazy to some extent because Crypto can be scary as well as exciting.
Posted Using LeoFinance Beta
https://twitter.com/904656441772007424/status/1582657337826758658
The rewards earned on this comment will go directly to the people( @joydukeson ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
We have people who can never change and will always believe in the old money system. They know the technology is great but just want to stay with what they believe in, crypto price is also another aspect these set of people hate because they can not control it
Posted Using LeoFinance Beta
Haha you're right bro, there are people who would never prefer to get rid of the old money system and this is crazy to some extent. However, crypto signals change and I don't know why they don't want change.
Posted Using LeoFinance Beta
It could be a good future for crypto. But right now there is a slight decline in general. I hope we see good things in the future. I really liked your video
I have chosen to see the better side of the current cryptocurrency market situation. Yes, the portfolio of many is bleeding but bear markets are often opportunities to build wealth.