Bears Gone Wild!
We continue our journey to the $3000 bottom most crypto enthusiasts hope to reach before the end of this bear market. On our way down we see many altcoins and small crypto exchanges close their doors due to lack of funding.
Liquid was a small yet long-term running crypto exchange in Ukraine. They are amongst the cryptocurrency companies that are affected by the bearish markets. Small businesses like Liquid that ran 180 ranks behind the competition for daily value, seem to have no hope through this bearish market. Ran Neuner of CNBC predicted closing down of more training companies in 2019 last year.
In current times, many are angry or even in disbelief that crypto has not had its big boom. Back in August 2018 many crypto trades thought cryptocurrency was finally on its way up when Bitcoin and other altcoins took a slight run. However, bitcoins run came to an end too soon for many it has not recovered since. Since then Bitcoin has been toddling along and seeing its darker days. Some may say that the market is undergoing a depression stage after a wave of bitter anger.
The emotional psychology of a market is where many traders turn to explain such time of remorse. During the past few months, we have seen many companies come to an end and not much pleasant cryptocurrency news has come our way. As a media company, we face this many times first hand seeing that cryptocurrency has not had as much glory as it used to. To many, this can lead to anger and frustration as well as turning away from the crypto space. From an emotional standpoint, it may make more sense than you think.
The psychology of a market cycle can be represented through this. We once existed in an era of euphoria, where Bitcoin was once glorious hitting that $20,000 mark. At some point in time, the market will always adjust, but we continued to have complacency later on anxiety, denial and many times have you or others have panicked that the coin will never return to its glorious days. Likewise, it has affected the market equally where many coins have yet to see euphoria. We’ve been in an age where Bitcoin would settle in the five to six thousand. We also experience anger where many people will begin to give up and would see Bitcoin have a slight spike but not quiet.
We feel like we have entered the late stages of anger and early stages of depression where companies begin to close out shut their doors and hope for others to play their part. If the presence of crypto is strong, after the depression comes some positivity. The real question is are we really at the end of our anger stage, and will we enter our depression stage? Will we then advance on to disbelief? And will optimism be seen once again? For now, the bear market has gone wild as we continue our journey to seek the bulls.
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