The crypto market is going through a long snooze that was not on the radar of all those traders and crypto analysts who openly preached the crypto market as the glorious progeny of the financial world. Almost every cryptocurrency is going through a pretty difficult time, and Bitcoin is struggling to keep its head above $17K.
Ether is dwindling to and from over the $1200 reach, and the overall capitalization is well below the $1 Trillion mark and is gushing at $850+ billion, which is a real tear-jerker for the crypto influencers, traders, miners, or anyone who is even remotely associated with the crypto market.
Are Corrections Over?
It was believed that after the corrections were over and had straightened out the price-oriented flaws for the crypto market, the bear market would be over, giving way to a more thriving bull market, but nothing of the sort has happened.
The bear market of the present term has been as long as the previous one, and it still doesn’t seem to be shifting away. If we talk about BTC alone, then the bear market for the asset has pertained to almost the extent of the bear markets of 2014-2015 and the year 2018 combined.
That is a real blow in terms of numbers and in terms of the asset bringing any array of profit to the investors. Is it the rising inflation?
The value of the commodities going kaput or the crypto market, like any other financial market, is just dependent on the money markets and precursors of wealth and prosperity as gold.
That is a bit tricky to answer, but at present, it seems that the crypto market is behaving exactly like any other financial market out there, and it wasn’t supposed to do it like this, it was supposed to be an independent market, but at the end of the day it is not behaving like it.
Another sentiment that has been spewed out there is that this bear market is going to be a bit more extensive, which is a real blow for an already crippling investment regime.