The past seven days are days crypto traders never wished to see in their lifetime again, having tested how the bear market looks like in the previous years. The tragedy took everyone by surprise, but what are we gonn do about it? Nothing!!! We are all in for the technology I guess so we have to let nature take its course.
It all started like a film trick seeing Bitcoin and almost all Altcoins depreciating massively in price last week only to discover that this week’s decline in price is even worse than last week’s. Last week the lowest Bitcoin could go was around $5,270 but this week it is currently sitting on $4,673 shaking off an additional 14% from its last week price since the bear began.
Twitter is recently filled with comments from sentimental traders, you can call that bad vibes!!! These are people who got in because of the money forgetting totally what they knew about crypto (a high risk investment opportunity) before they finally joined the train. Some even threatened to commit suicide while others disclosed that they are and out for good. At first, why would one put all he has in something he knows fully well is considered a risk?
I’m out fuck this crypto bullshit I’m done I’m not wasting anymore time here… fuck CT, fuck bitcoin, fuck Mathew Mcconaughey. Call it capitulation idc. Goodbye.
— Mr. Panini (@Cryptopanini) November 19, 2018
I’m capitulating- fuck you all. I lost a lot of money. Fuck crypto, worst year of my life. Keep gambling fuckwits. I lost 7 grand. Fuck the lot of you I hate crypto and I hope you all commit suicide.
— Godl Member (@godlmember) November 18, 2018
Total market cap according to CMC is currently $151 Billion, the lowest we have seen for the past 365 days. Other Altcoins also saw significant losses ranging from 10-20% in addition to one we saw last week, but XRP still remains the best performer in this bear ride, its loss could only account for 0.33% trading at $0.47.
In the midst of all these confusions, I think I will leave you guys with this wonderful quote from @iamjosephyoung and @officialmcafee
People have panicked. But there’s no fucking need. We’re in a bear market. They suck, yes, and not like a hooker with no teeth. But I’m 73 and have seen this dozens of times in many markets. Bear markets are like Winter. It’s always followed by a glorious Spring. Fucking relax.
— John McAfee (@officialmcafee) November 20, 2018
I’ve always been vocal about not knowing where Bitcoin price will go, because no one really knows.
Last year, in 33 days, BTC went from $6k to $19k. Crypto is highly volatile and unpredictable.
If you have confidence in the long-term growth of crypto, patience will be rewarded
— Joseph Young (@iamjosephyoung) November 20, 2018