Crypto Long & Short: A Bear Market Doesn’t Spell Doom
- Date: 12-Jul-2021
- Source: Yahoo News
- Sector:Technology
- Country:Middle East
Crypto Long & Short: A Bear Market Doesn’t Spell Doom
In Q2, bitcoin hit an all-time high (ATH) of $64,888.99 and ended the quarter down 46% from its ATH at $35,046.22. The drop, among other factors, prompted our team to make the bold claim in a previous issue of Crypto Long & Short that cryptocurrencies are officially in a bear market.
Price declines invite the cynics in droves and once-pompous, paper-rich day traders are suddenly “in it for the tech,” but a bear market need not spell doom for the institutional investor. For investors who believe in the intrinsic value of bitcoin, ether and other cryptocurrencies, bear markets shine a spotlight on tools and metrics useful for gauging market sentiment and shaping long-term investment strategy.