Are We In A Bear Market?

On September 30th, the stock market took a hit. Covid-19 is on the rise again and the UK is on the brink of another national lockdown. The markets reflected this uncertain situation. What happened to crypto?

This is how crypto markets work?

During the previous crypto bull markets, corrections have been very common. Bitcoin made a 3x gain and corrected by 20% and it is just human psychology. When people earn a lot of money, many of them will want to take profits. This creates a chain reaction because everyone is selling and now the market is full of fear. This causes undervalued prices. Sooner or later people will notice that projects are undervalued and start buying again after some time and the next positive feedback loop starts.

As you may have noticed, this repeats several times, even during bull markets. In crypto, we see many small hypes and bubbles inside a big one. Therefore, always zoom out and understand whether we are in a long term bear or bull market.

According to DeFiWorld, corrections were normal and just part of the larger trend, adding this year reminded them of 2016. “We move in bubbles and 4-year cycles. While everyone is just thinking about what happens today, this week, or this month, you should zoom out and reflect where we are really heading. The long term trend is clear: It’s upwards. “

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