You saw those red candles, right? It’s the bear market and they could get ugly, very ugly and this is the actual time they get too bad. 2021 was the proof that investing in cryptocurrency can be life-changing, 2022 is otherwise. Anyways it isn’t actually proof that investing in cryptocurrency could be life spoiling… well I don’t know how correct it is to say that, but the obvious fact is that this is a trying time for everybody dipping their feet into cryptocurrency and digital asset investment. From an all-time high of over 60,000 dollars, bitcoin has slipped and has lost its support at 30,000 dollars. It is on a free fall, not just Bitcoin but even your favorite cryptocurrency… and my favorite cryptocurrency.
Ethereum has a whole lot of things in the pipeline, many upcoming upgrades, and enhancements, but even these are not able to hold the price from falling. It hit a notable high of over $4000 but thanks to a widespread fall, it has fallen massively to a current price of just below 2000 dollars. Other cryptocurrency projects have seen double-digit falls; each of them records a percentage price loss of over 90% of their value at an all-time high. Unfortunately, this scenario seems to be just the beginning of an even bigger event. It is the bear market there’s no need to hide it anymore, it’s crashing, everything. remember the Lambo boys and the moon boys as well? well, they just submitted an application at McDonald’s, you might meet them on your daily shopping… pun intended.
The bull market is a very interesting time, even the worst digital assets record mind-blowing gains. You probably thought you already mastered the art of trading cryptocurrencies and making huge gains in a very short space of time; well I used to think so too. I thought I was a legendary cryptocurrency Trader who could easily spin money and make gains… once again I was wrong about myself and probably this applies to you as well, it’s very unfortunate I didn’t get to buy that Lambo anymore. Maybe next year, maybe in the next bull run; I am optimistic.
While cryptocurrency prices are prone to variations from time to time; it is no doubt that these variations are what actually make digital asset investment interesting. The fact that you could be rich today and poor tomorrow is mind-blowing and makes you want to come back and try again next time. You could make a fortune here and you can also lose a fortune here. The interesting thing is that there is no specified time to make these gains and losses. But unarguably, times like this are tougher. It could be heartbreaking watching your portfolio lose value; most times you have no control over these things and you can’t even stop your own assets from being valueless. Bear market warnings should sound louder, many traders are still unable to fathom the fact that prices can vary and they can go in any direction at any time… sorry, you used to be rich, but that’s not the case anymore.
But it is no story that even the biggest winners are made in a time like this. Prices of even the most reputable cryptocurrency assets are in the dust currently. Considering an all-time high of over 60,000 dollars you can currently buy bitcoin for less than half this price and double the amount of Bitcoin with the same cash. The discount across every asset makes for a very good purchase period and a time for investors to make even more gains if the market ever recovers. But that’s the issue; is the market even going to recover? Well, I wish I had a definite answer to that question but even your favorite Twitter analyst has called the return of the bull run a number of times but here we are dabbling in the red candles and losing cash as fast as possible, I wish there was a fix for this. But this is the test, the real test. Paper-hands and leaving the market as fast as possible but even if the diamond hands are getting bombed it might take just a while before they become loose and sell-off.
Consider this period a real test of your belief in the ability of cryptocurrencies to hold up against widespread sell-off and an army of investors looking to offload their investments and leave the space. There are discounts everywhere, every crypto asset is down badly and you can buy some of them for a penny… they used to sell for over $100. It’s test time, feel free to make use of this low price, but this is not financial advice.
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