A quick recap of cryptocred’s ideas https://medium.com/@cryptocreddy/bitcoin-bull-market-considerations-de3aa0b57029
First of all, I’ll say that I’m confident that BTC will reach new heights, however, I think that this new growth in an upcoming bull market won’t be as rapid as it was in 2017. There are some reasons:
1) In 2017 majority of people just knew about a revolutionary blockchain technology, and was fascinated by it. Nowadays there is a different situation — this word is now on hearing and people won’t go here just for a new technology
2) In 2017 people knew Bitcoin only from his growth-side. If the crisis of 2013 was recalled, it seemed like something long forgotten. Now every newcomer will remember crisis of 2018 and will think 100 times before investing big money here.
3) From the technical point, the price grew in a free flight — there were no any resistance levels. Now, after this market dump, there are a lot of resistance levels have been appeared and the price will have to break all of them
4) Probably, many of people who now have minus balances will want to exit of crypto to fix their funds from losses as soon as they became green.
If you found this post useful, I will be really appreciated for +merit.
First of all, I’ll say that I’m confident that BTC will reach new heights, however, I think that this new growth in an upcoming bull market won’t be as rapid as it was in 2017. There are some reasons:
1) In 2017 majority of people just knew about a revolutionary blockchain technology, and was fascinated by it. Nowadays there is a different situation — this word is now on hearing and people won’t go here just for a new technology
2) In 2017 people knew Bitcoin only from his growth-side. If the crisis of 2013 was recalled, it seemed like something long forgotten. Now every newcomer will remember crisis of 2018 and will think 100 times before investing big money here.
3) From the technical point, the price grew in a free flight — there were no any resistance levels. Now, after this market dump, there are a lot of resistance levels have been appeared and the price will have to break all of them
4) Probably, many of people who now have minus balances will want to exit of crypto to fix their funds from losses as soon as they became green.
If you found this post useful, I will be really appreciated for +merit.
Obviously, people got fascinated by the price of Bitcoin when it hits for above $19k and never consider the fact that it might drop drastically. Hopefully people will realize that cryptocurrency is not lalways in an upward gains and might be as well drop overtime.
