2021-6-23 14:14 |
Fears are growing that the recent cryptocurrency downtrend could actually be a full-scale crypto bear market. Knowing exactly what is happening is crucial to making the right investment decisions, though no single person can categorically predict the future with precise accuracy.
To help you get a feel of market sentiment right now, we have compiled the reactions of some of the top cryptocurrency commentators and their expectations going forward.
While you should always do your own research and avoid being wholly swayed one way or the other by someone else’s opinion, these social media snippets can help point you in the right direction.
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Is this a crypto bear market? Social media has its say Is it all just noise?Is the current furore surrounding a potential bear market just panicked noise?
When #Bitcoin makes a new low we can talk about whether or not we are in a bear market.
The rest is just noise. The loudest of these people are the ones who didn’t believe enough to get in early.
All these bear posts simply want to see you miserable so they aren’t alone.
Given that every person and their dog seems to have an opinion on the current state of the cryptocurrency market, perhaps it is wise to pick and choose the opinions you give credence to.
This morning: Can’t believe $BTC is going to $20k.
A few candles later: I survived the bear market of June 2021.
I love this website.
So we were in a bear market and now we are in a bull market.
The mood swings.
While this opinion is less than helpful for traders, those who are long on Bitcoin, Ethereum, or any other cryptocurrency may find comfort in this long-term sentiment.
3 day bear market? 3 week bear market? 3 months? 3 years?
Doesn’t matter to me. I’m stacking sats for my kids. #BTC
Panic selling is never a good idea, but is selling at all something that crypto investors should avoid? Do you buy into the eternally upwards narrative?
#bitcoin is dead
We're in a bear market
Working at McDonald's
Just so you know, if you are crapping your pants and thinking of selling your #bitcoin, the price will suddenly go up after.
This is how it works, I don't write the rules.
Is this ‘bear market’ actually a great opportunity to acquire more cryptocurrency for a discounted value?
Bull markets make you money, bear markets make you rich.
Those that don't like bear markets also do not understand the opportunity they provide.
Some commentators feel we are definitely in a bear market, and that holding onto the hope of price resurrection is causing some investors to lose even more money.
Don't get excited about Bitcoin's dead cat bounce from an intra-day low of around $28.6K to near $32K. Nothing drops in a straight line, especial a token as highly manipulated as #Bitcoin. As this bear market grinds on, about 55% so far, better to sell the rips than buy the dips.
— Peter Schiff (@PeterSchiff) June 22, 2021 We’re not at a macro bear market just yetPlenty of crypto investors have previously experienced full-blown bear market, and some feel we aren’t quite at that point this time around.
I've experienced 2 full macro bear markets & I understand the fear of another one starting. I have no doubt we'll see another macro bear market but we're not there yet. IMO the bigger gains are still to come & those who panic sell now will miss another big leg up in the market.
— Secrets (@SecretsOfCrypto) June 21, 2021 Bitcoin bear market confirmed?Some independent commentators have reluctantly stated that the technical indicators for the price of BTC point towards a bear market outcome. Elon Musk’s reversal on his decision to allow Tesla to accept Bitcoin, and new Chinese restrictions have added weight on the news side of this bearish narrative.
I hate to say this, but it seems like the $BTC bear market confirmed.
Too many whales are sending $BTC to exchanges. https://t.co/DgmLukP4NU pic.twitter.com/AWJ8oVSUkQ
The crypto market is popular even for those without extensive investment history. YouTuber KSI believes a bear market could well be on the horizon, and given his popularity, this opinion could influence a large number of his followers.
Bear market time?
— KSICRYPTO (@ksicrypto) June 22, 2021 A stupid question in the first place?Should crypto investors and traders be asking smarter, less emotive questions?
Stupid questions:
“Is this a bear market?”
“Have we bottomed?”
Smart questions:
“Does my current level of exposure reflect how profitable I am in these market conditions?”
“Are there easier/more profitable opportunities in other markets and ventures at this point?”
Are some crypto investors making the exact same mistakes this time around?
Strange watching people from last cycle make the same exact mistakes.
> lucked into $ in 2017
> didn’t take enough profit
> used profits to buy “dips” in 2018
> lost it all in the bear market
> lucked into $ in 2021
> didn’t take enough profit
> using profits to buy “dips” here
Is confirmation bias impairing your ability to think rationally? There is always the chance that you are wrong whatever your opinion is, so always consider evidence that opposes your viewpoint objectively.
So many people think that Bitcoin has to play out perfectly on a 4 year cycle that they cannot imagine a type of bear market that is anything other than -90% over 1.5 years.
Please be open to possibilities other than S2F and the Four year cycle
Are we now in a cryptocurrency bear market? What comes next? We’d love to hear some of your thoughts. Simply tweet us @InvezzPortal and let us know your opinion.
Otherwise, for the latest news on the cryptocurrency market, check out our news page.
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