Are we in a cryptocurrency bear market?

By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
on Jun 23, 2021
  • Are we in a crypto bear market?
  • Should you sell your cryptocurrency now?
  • Should you buy the crypto dip?

Fears are growing that the recent cryptocurrency downtrend could actually be a full-scale crypto bear market. Knowing exactly what is happening is crucial to making the right investment decisions, though no single person can categorically predict the future with precise accuracy.

To help you get a feel of market sentiment right now, we have compiled the reactions of some of the top cryptocurrency commentators and their expectations going forward.

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While you should always do your own research and avoid being wholly swayed one way or the other by someone else’s opinion, these social media snippets can help point you in the right direction.

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Is this a crypto bear market? Social media has its say

Is it all just noise?

Is the current furore surrounding a potential bear market just panicked noise?

Discount the ever-changing opinions of the Twitter masses?

Given that every person and their dog seems to have an opinion on the current state of the cryptocurrency market, perhaps it is wise to pick and choose the opinions you give credence to.

Focus on the future

While this opinion is less than helpful for traders, those who are long on Bitcoin, Ethereum, or any other cryptocurrency may find comfort in this long-term sentiment.

Now is not the time to sell

Panic selling is never a good idea, but is selling at all something that crypto investors should avoid? Do you buy into the eternally upwards narrative?

An unrecognised opportunity

Is this ‘bear market’ actually a great opportunity to acquire more cryptocurrency for a discounted value?

It is better to sell a stinker for a loss than to buy more

Some commentators feel we are definitely in a bear market, and that holding onto the hope of price resurrection is causing some investors to lose even more money.

We’re not at a macro bear market just yet

Plenty of crypto investors have previously experienced full-blown bear market, and some feel we aren’t quite at that point this time around.

Bitcoin bear market confirmed?

Some independent commentators have reluctantly stated that the technical indicators for the price of BTC point towards a bear market outcome. Elon Musk’s reversal on his decision to allow Tesla to accept Bitcoin, and new Chinese restrictions have added weight on the news side of this bearish narrative.

Popular UK YouTuber calls a bear market

The crypto market is popular even for those without extensive investment history. YouTuber KSI believes a bear market could well be on the horizon, and given his popularity, this opinion could influence a large number of his followers.

A stupid question in the first place?

Should crypto investors and traders be asking smarter, less emotive questions?

Some investors did not learn lessons from crypto crash of 2018

Are some crypto investors making the exact same mistakes this time around?

Open your mind to alternative possibilities

Is confirmation bias impairing your ability to think rationally? There is always the chance that you are wrong whatever your opinion is, so always consider evidence that opposes your viewpoint objectively.

What do you think?

Are we now in a cryptocurrency bear market? What comes next? We’d love to hear some of your thoughts. Simply tweet us @InvezzPortal and let us know your opinion.

Otherwise, for the latest news on the cryptocurrency market, check out our news page.

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