Since the beginning of the new year, the past three months has seen most cryptocurrencies lose over 60 percent of their values. Bearish markets have started to spark 2014 memories when BTC/USD markets and many altcoins suffered from a year-long downturn. Surely there have been few similarities to the current 2018 bear run and the one that took place four years ago.
However there are some deep ecosystem contrasts within the crypto-space that leads one to believe this bearish sentiment won’t last as long — 2018 is not even comparable to the time BTC was called the “worst currency of the year.” Also read: Markets Update: Bears Pull Crypto-Prices Near Last Bottom If you trade or hold cryptocurrencies you’ve probably heard many speculators say that we are experiencing a crypto-depression that will likely resemble the infamous 2014 bear run. In January of 2014, the price of BTC dropped from $864 per coin to roughly $200 over the course of the year.
Mainstream media deemed the cryptocurrency the “worst currency of the year” as its performance was extremely lackluster against nation-state issued currencies. Things started looking better during the beginning of 2015 after BTC became unprofitable to mine in certain regions.
Even though BTC prices lost 60 percent of their value that year things were a whole lot different. For instance, the spike that led to the 2014 bear run just before Mt Gox went under was a much quicker and short-lived bull run.
The 2017 bull run lasted all year long with only around seven 20-30 percent corrections in between. Back in 2014, there were a bunch of hacked exchange incidents that affected the market significantly. Read more from news.bitcoin.com…
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