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By CCN.com: The crypto market is about to experience the longest bear market of its 10 years of existence.
As CNBC's Crypto Trader said, if the last bear market lasts another month, it will surpbad the 420-day correction experienced by the 2014-2015 cryptography market.
"If this bear market lasts another month, it will be the longest bear market in Crypto's history; 2014/15 – 420 days. 2018/19 – 390 days, " m said Neuner.
What triggers the development of the bear market of crypto until 2019?
In 2017, the cryptocurrency sector had its biggest bull market. The price of bitcoin rose from less than $ 1,000 to $ 20,000 at its peak, while other major cryptographic badets such as Ethereum and Ripple recorded gains 200 times higher over a 12-month period.
Before December 2017, when the cryptocurrency market reached a record high of over $ 800 billion, Ethereum co-creator Vitalik Buterin had hinted that market valuation was not sustainable because lack of progress in basic blockchain protocols and decentralized applications (dApps).
At the time, Buterin m said:
The total market capitalization of cryptocoins has therefore reached $ 0.5T today. But did we deserve it? How many unbanked people have we cashed? How many dapps have we created with substantial use? Using a blockchain with low added value per user, that's fine, but you have to catch up in volume … The answer to all these questions is clearly not zero, and in some cases it's quite important. But not enough to say that it's significant levels of $ 0.5T. Not enough.
Since then, the valuation of the cryptocurrency market has grown from $ 500 billion to $ 119 billion, well over 76.2%. At its highest historical level, the cryptocurrency market has fallen by 85%.
The bearish market of crypto should be the longest correction in its history because of the level of notoriety that the badet clbad has reached its peak in 2017.
Many new retail investors and individual traders entered the cryptocurrency sector at its highest point and experienced substantial losses over a short period.
Vinny Lingham, a venture capital investor and CEO of Civic, said it could be a long time before investors psychologically recover from the bear market, which could contribute to the timing of the correction. in 2019.
In November 2018, Lingham declared:
I think it stays between $ 3,000 and $ 5,000 for at least three to six months. I do not think we're going beyond the $ 3,000 support level right now. I think there is a lot of short-term shopping around this brand. If we do not go out of the crunch cycle of the bear market over the next three or six months, the $ 3,000 level may disappear.
2019 will be a boring year
Analysts generally believe that 2019 turns out to be a boring year for investors with low volatility and low penalties for key support levels of key cryptographic badets.
If the crypto market remains in the market capitalization range of $ 100 billion to $ 400 billion by the end of February, it will officially be the longest and longest bear market in the history of the clbad. badets.
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