For more then 8 months we are sitting in a bear market and big depression for most of retail investors. We all remember mania from December 2017′ and January 2018′ but also incredible diabolic rise of all cryptocurrency values. Most of you probably invested back then and now with a pain in your belly are watching your portfolio, like other 90% of invstors. When mania with cryptocurrencies stopped and values were lost more then 50 percent, a lot of people lost their savings and loans which they have to repay now but they can’t repay it from profit in cryptocurrencies anymore. That’s only temporary! We always warn our clients not to invest what they can’t afford to lose, you need to be aware of market risks and all markets cycles got their up’s and down’s. You will not become rich overnight.
However, depression and bear market are very profitable for traders and it’s not important if price will go up or down. Our Bitlucky team think positive how we accumulate much more Ether’s then our clients would do alone and bear market cycle is extremely profitable for us if we look at our goal to grow our portfolio in Ether’s or eventually Bitcoins. We need to be patient and survive this period with joy so later we can get much more profit through fiat currencies.
Even after worst rain, the sun will shine above. If you haven’t caught the news, we are bringing up few important reasons why will cryptocurrency market recover soon. We can’t be sure if this recovery will happen by the end of year, but we are assured in recovery and if we aren’t, Bitlucky wouldn’t exist.
- BAKKT – Bakkt is a company backed by founder of New York Stock Exchange. Bakkt will push Bitcoin and other cryptocurrencies into mainstream use in the future and they want institutions to treat it as financial assets. For every contract their clients will get real physical Bitcoins and they wouldn’t have to worry about safe storage. On their Twitter Bakkt got almost 40 thousand followers what shows us there is interest. Bakkt will release their service on 5th November this year and we hope this will become bullish on graphs.
- COINBASE – Coinbase is one of the leading companies in crypto space and crypto exchanges. Company employed 250 new people through the year and they are expanding globally. Also, Coinbase created custody for institutional investor back in july and we believe they also expect market to grow.
- BITMAIN & mining – Bitmain is by far the largest crypto mining company that is producing ASIC miners for cryptocurrency mining. The last ASIC miners and mining chips are obsolete and the rumours are Bitmain already mining for few months with new, far better ASIC miners. Few smaller companies already released some ASIC’s that are 10x more powerful that those from last year. We think that Bitmain is waiting for the right moment to announce and release their new miners on the market and that moment is close, specially when they announced IPO on Hong Kong stock exchange. Real profits besides mining from last few months they don’t have and new miners would suddenly grow this company finances a lot more.
- Bull & bear cycles – Maybe less relevant or well-known but it’s important to point once again that market can’t stay forever in bear or bull cycle. Cryptocurrency market is faster then traditional markets like 10 times and recovery is on the horizont because we will never stay forever in market where we are today. The most important thing is to have patience and no panic to survive every bear cycle and try to cut losses on minimum. In this market we as traders are focusing on accumulating more cryptocurrencies in our portfolio.
That’s our end view on whole crypto markets. Cryptocurrencies will definitely have another bull cycle and question is not if, question is when. We can’t be sure on exact period of time when will this happen but we have few scenarios in our mind what we will mention later. We are ready for all scenarios and it’s not a problem for us if prices are dropping or growing as long as we accumulate and grow our portfolio. With billions of fiat currencies waiting aside for regulations and infrastructure to enter the market there is no doubt cryptocurrencies will continue their original path and with help of blockchain technology only sky is the limit.