Understand the Current State of CryptoMarket in Bear Mode

The current crypto market state is in falling rhythm the users face the bearishness of the crypto market, in last week the bitcoin touch the below the $33,000 again, the reason for such decline is that the market sentiments are biased towards short selling and bigwigs already invested a lot of money in Bitcoin market.

The crypto market still lacks confidence and therefore short selling is a common practice in this type of market state, many investors escape the losses and even make a lot of money, crypto markets predict the outlook of the currency world if you have a good vision and hit the trend then the market will certainly reward you.

It’s up to to the future that cryptocurrency will completely replace our traditional currency system, but the continuous development of the cryptocurrency market and the arrival of advanced blockchains will definitely change our future, crypto market is lead by Bitcoin which is likely to become an important choice for small and medium-sized investors in the world if the financial system of a specific country is in an unstable state and the authority wants to control the country then they will try to rely on the external financial currency system just like the El Salvador case where Bitcoin become the favored currency.

Currently, investors focusing on the secondary market, they try to good at short term trend, it is fact that cognitive power creates wealth, supply and demand have a relationship that will impact the prices of cryptocurrencies it is observed that in the crypto market the demand of the Bitcoin still very strong and therefore after the every fall Bitcoin strikes back and gain the new position, the one and only negative factor with Bitcoin is the fear of regulation because regulatory authorities continue to adopt a high-pressure posture against Bitcoin.

The composition of investors in the current crypto market is largely the capital investors just like Musk the world richest, Goldman Sachs, and Visa under such composition of investors the price of Bitcoin will not fall, if the market again plummets then bigwigs try their strength to control the crypto market.

Although with a current bear market, the Bitcoin price has been hovering in a new position after the plunge and constantly descending new bottoms as many experts indicate that Bitcoin already has a very strong foundation for growth, the short term trend is not continuing to long term, according to analyst and experts Bitcoin market outlook this year has a positive outlook and soon Bitcoin once again create the new record.

In the crypto world, Bitcoin is the benchmark for the entire encrypted assets and has the dominance, it has the share of 50% of the entire crypto market therefore the returns of all cryptocurrencies usually have a strong correlation with Bitcoin, if Bitcoin started to fall then such decline has brought a new trend in the entire cryptocurrency market.

According to JP Morgan Chase, the investor’s sentiments regarding cryptocurrencies is still very complicated and 33% believe that Bitcoin is the riskiest asset, and the continued loss of Bitcoin also prevented the possibilities of more institutions buying on dips those investors who invested in publicly listed Bitcoin funds or Chicago Mercantile Exchange (CME) Bitcoin futures still have little interest in buying Bitcoin on dips.

Source: https://medium.com/cryptocurrencies-ups-and-down/understand-the-current-state-of-cryptomarket-in-bear-mode-3f54dc8a019d?source=rss——-8—————–cryptocurrency