The media is already saying Bitcoin is in a bear market, but those with experience in the crypto space know that's just not true.
After rocketing to all-time highs over the past month, Bitcoin had its first major pullback.
The media is already coming out calling this a bear market, and bears are calling it a bubble.
It’s a familiar script that’s been repeated in the cryptosphere ad nauseam. Is now the time to believe it?
Bitcoin plummeted. If you’ve been in the crypto market for even as little as one year, you know that’s business as usual.
Bitcoin shoots up, then it drops. Then it usually shoots up again, then it drops. The naysayers come out in chorus with each dip, saying it’s a bubble, a crash, and a terrible investment.
If you’re new to the crypto game, get used to this refrain.
CCN.com
HomepageMarkets News & OpinionsIs It Time to Redefine “Bear Market” for Bitcoin?
Aaron Weaver in Markets News & OpinionsJanuary 12, 2021, 6:33 PM
Is It Time to Redefine “Bear Market” for Bitcoin?
The media is already saying Bitcoin is in a bear market, but those with experience in the crypto space know that's just not true.
bitcoin
Bitcoin is volatile, but that doesn't mean it's in a bear market. | Image: CsaboPhoto/shutterstock.com
After rocketing to all-time highs over the past month, Bitcoin had its first major pullback.
The media is already coming out calling this a bear market, and bears are calling it a bubble.
It’s a familiar script that’s been repeated in the cryptosphere ad nauseam. Is now the time to believe it?
Bitcoin plummeted. If you’ve been in the crypto market for even as little as one year, you know that’s business as usual.
Bitcoin shoots up, then it drops. Then it usually shoots up again, then it drops. The naysayers come out in chorus with each dip, saying it’s a bubble, a crash, and a terrible investment.
If you’re new to the crypto game, get used to this refrain.
Bitcoin Loses 20% of Its Value (Again)
It’s been a volatile week in the world, and the world of cryptocurrency. According to CoinMarketCap, the flagship cryptocurrency has gone from an all-time high of over $41,000 to under $31,000 in a span of four days.
As defined by Investopedia, a bear market occurs when a market declines by 20% or more. This decline is usually accompanied by “widespread pessimism and negative investor sentiment.”
Bitcoin has recently lost 20% of its value. And there is no shortage of Bitcoin naysayers, even when the asset is skyrocketing. So when CNN says the asset is in a bear market, it’s technically not wrong.
But if you’re not new to Bitcoin or the crypto market, you know this feels like a wild statement.
After all, Bitcoin lost nearly 20% of its value several times during this bull run.
At the beginning of September, it dropped from $12k to $10k in less than a week.
On November 24th, 2020, Bitcoin went from roughly $19,200 to roughly $16,700 in a span of two days.
bitcoin