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Is Crypto bear market here? Know what Experts and social trends suggest

As per experts, all of the previous bear markets were accompanied by a short-term spike in the price until the Fear, Uncertainty and Doubt among the traders stopped.

Is Crypto bear market here? Know what Experts and social trends suggest

New Delhi: The global market capitalisation substantially suffered by 2.25 percent, standing at $1.97 trillion over the last 24 hours. The total crypto market volume saw a 3.99 percent increase over the last 24 hours, standing at $93.86 billion. Meanwhile, the total volume in DeFi is currently $15.84 billion which is 16.88 percent of the total crypto market over the last 24 hours.

Stable coins volume is now $74.11 billion which is 78.96 percent of the total crypto market 24-hour volume. On the other hand,  Bitcoin dominance saw an increase of 0.24 percent over the day, standing at 40.75 percent of the total market.

King of cryptocurrency, Bitcoin didn’t have the best start to 2022 as it is down by 12 percent in the last 7 days and now experts believe that the cryptocurrency bear market has arrived. According to social trends and investor sentiments, some experts also believe that this bear market will be shorter than the previous ones.

As per crypto intelligence platform Santiment, social trends coming from investors and traders have confirmed that the cryptocurrency market is under an official bear influence. The bearish sentiment is prevalent among traders and new investors since mid-May 2021.

Mayne, an analyst and crypto trader, indicates that some coins still rally upward in a bear market. The cryptocurrency prices don’t shoot upwards directly in a straight line, similarly, the market doesn’t dump in a single night, they go down in the same manner.

Bitbit, another crypto analyst, investor, and trader believes that the bear market is here to stay but not for a long time and the launch of a custody Exchange Traded Fund (ETF) in 2022 can eventually start the bull run leading to a massive upward rally in Bitcoin price.

tedtalksmacro, mentions that both bear and bull markets are becoming shorter in duration and suggest traders that they should get used to range-bound price action.

As per experts, all of the previous bear markets were accompanied by a short-term spike in the price until the Fear, Uncertainty and Doubt among the traders stopped. The Fear and Greed Index,  which is a tool that indicates whether the market is in the bullish phase or stuck in the bearish phase, has already signaled “extreme fear.”