The market cycle is not new and is not unusual
For those who have been in the cryptographic market for 4+ years, this incident is not new. But for someone who has entered the cryptocurrency market in 2017, this should be the worst nightmare. A 25% fall is huge for ordinary traders who do not have experience in the Crypto markets. A similar situation came during the last bearish markets of 2015. While most people were panicked in the previous bear market, those who could take it in a positive way, in the long run, were earning a lot more.
A fall of 80% for the Bitcoin markets is not a big deal, we've seen before, and it's part of a normal Bitcoin market cycle. If the chronology of the Bitcoin market is examined in a genuine way, a crash of 80-90% for Bitcoin is very reasonable. It happened in 2013 when Bitcoin crashed from $ 1300 to $ 200. An 80% less for $ 20,000 would be $ 4000, which makes the price of $ 4000 very reasonable. Some investors may argue that the sphere of cryptocurrency is now different from 2013 or 2015. Many people are suffering psychologically, but to be realistic, bear markets can last for months if not for years.
Bitcoin Cash Drama, Craig Wright becomes the villain
Bitcoin money has recorded a massive 55% success in the last seven days, as reported by CoinGecko, with a CoinGecko notice that Bitcoin Cash (BCH) refers to the commercial market of the implementation of Bitcoin Cash ABC.
Craig Wright is threatening the Bitcoin community that if they support Bitcoin Cash ABC, Craig will sell its BTC and bring the market crash to finance Bitcoin SV mining.
To all the BTC miners …
If you switch to my BCH, we may have to finance this with BTC, if we do, we sell for USD and, well … we think the BTC market has no space … it accumulates.
Think about it. We will sell a lot!
And have a good day
(BTC at 1000 does not spill me) pic.twitter.com/oUScEahtWc
– Dr Craig S Wright (@ProfFaustus) November 14, 2018
Bad stock market performance
The stock market was also successful, with Nvidia was the most successful from $ 202 to $ 144. While people are losing money in stock markets, people are starting to capitulate. Capitulation is an integral part of the market cycle to return to the bull market. While markets are depressing, it is necessary to remember that the market price and technological advancements are not correlated. While huge market advances are happening in blockchain and cryptocurrencies, it's best to spend this difficult time building a solid foundation for yourself or your businesses.