Cryptocurrency market trends I

[Apollo]

You consider this as a bull run lol??

There was a new ATH just a few weeks ago, by definition still a bull market.

Only if it goes back into high 20Ks can you speak of a bear market.

 

[JohnCena]

Not at these prices, but you will likely get another shot at buying SOL dirt cheap.

VCs with big bags of it will dump it during crypto winter.

Ethereum was held less by VCs and more by average people and it dumped hard during crypto winter (CW). Same will happen to SOL during a CW, potentially even with a bigger decline percentage-wise.

which cryptos now would be the safest bet to hold to see some gains from now until mid next year?

Im thinking Algo, Matic, Link

 

[Apollo]

which cryptos now would be the safest bet to hold to see some gains from now until mid next year?

Im thinking Algo, Matic, Link

Honestly, I can't say.

It is a trader's market at the moment and not a hodler's market.

This dump for example was a bit predictable if you looked at the charts, BTC looked weak (remember me saying it looked weak mid-Nov?).

Better off changing positions every couple of days depending on TA and feels.

 

[Kanan]

There was a new ATH just a few weeks ago, by definition still a bull market.

Only if it goes back into high 20Ks can you speak of a bear market.

Waiting for Bitcoin to drop into high 20s to declare a bear market is a bad metric once it drops into mid 30s most people would assume a full fledge crash and salvage whatever they can.

 

[Apollo]

Waiting for Bitcoin to drop into high 20s to declare a bear market is a bad metric once it drops into mid 30s most people would assume a full fledge crash and salvage whatever they can.

It is only a bad metric if you consider holding all the way down to that price, but definitionally what is a bull vs bear market in crypto is very different from traditional markets due volatility.

bull market in crypto = recent ATH and still prices above last cycle's (2017) ATH.

bear market in crypto = break down of market structure and sustained downward prices over +6 months. Often can only be confirmed in hindsight, not as it develops.

 

[Kanan]

which cryptos now would be the safest bet to hold to see some gains from now until mid next year?

Im thinking Algo, Matic, Link

If a crash is incoming stack your fiat and wait till your coin of choice drop to it's lowest levels to buy them off and wait couple more years for another bull market to cash out 10-30x


There is no crypto currency that is bear market proof they'll all tank.

 

[Apollo]

@Kanan

Crypto market is much more extreme than regular markets, there are even memes about this:

Definitions about markets in crypto are different.

 

[JohnCena]

If a crash is incoming stack your fiat and wait till your coin of choice drop to it's lowest levels to buy them off and wait couple more years for another bull market to cash out 10-30x


There is no crypto currency that is bear market proof they'll all tank.

Excellent point. Based off my research and the posts here, I believe SOL and CRO are the best choices imo to hold long term.

 

[JohnCena]

Also Algo seems incredibly promising, thanks @Apollo for recommending me that one. I will hold it regardless of bull/bear market and DCA .

 

[TekNiKo]

Oh no

 

[JohnCena]

Oh no

Bear market imminent? So many bad news lately

 

[JohnCena]

@Apollo saw a post on crypto subreddit that echoed your sentiments

 

[Apollo]

Bear market imminent? So many bad news lately

It is a no-name exchange. It won't be that big of a deal. Only Coinbase, Binance, Kraken, FTX hack would affect markets, not smaller exchanges.

 

[TekNiKo]

All indicators Bullish!

 

[Kanan]

@Apollo saw a post on crypto subreddit that echoed your sentiments
View attachment 208372

I share the same sentiments. It crazy when you think about it all those people who missed out on 2017 had all the time in the world to cash in on 2021. Easy recipe to millionaire status had they horde from 2018 - 2020 lows I'm almost certain another bull market won't come as easy because people started to take notice of the boom n bust cycle, whales are not stupid they'll find a way to screw us up
.

The upcoming financial crisis will most likely hit us before the next cycle. We'll see first hand the sustainability of Crypto amidst a global recession will it become a safe assets or continue as decentralized speculative market.

 

[JohnCena]

Wow never realized XRP has been in the space for such a long time . Im def loading up on some now.

2014

In terms of long term hold, I think its best to hold coins that have been here for a long time and survived bear markets and ones that are backed up by wall street (SOL).

 

[JohnCena]

Wow never knew Dogecoin was in the top 10 before in 2015-2018. Very impressive.

I'll invest in some dogecoin as well.

 

[TekNiKo]

 

[TekNiKo]

My LUNA has now fallen 10% I guess its back to being a Wage cuck

 

[Ugbaad Geel]

My LUNA has now fallen 10% I guess its back to being a Wage cuck

10%??? only 10% you're joking I've been down -3x before.