Speculators: Using FUD & FOMO To Drive Market Sentiment
The impact of the bear market is mostly underestimated, especially when the market gets to that stage where small speculation can either bring a pump or cause a dip.
Yesterday, it was the SEC losing out on a lawsuit that caused a 5% rise, and now the market has dipped a little to show that this speculation only caused some positive movement in the market.
For example, if all the charges against FTX were to be dropped, this would cause a dip, why? Because the market is fragile. If 2019 were to repeat itself and some top finance dog came out to call Bitcoin a scam again, thus would definitely hurt the market.
This is also because we're on the precipice of the biggest Market drop in the history of crypto
Bad actors are the forerunners of this bear market, and this gave the SEC something in the fight against crypto. Some crypto investors are now used to speculations because these events were what led to the emergence of the bear market.
Although 2023 is looking like 2019 again, we're more fragile at the moment, and a lot of analysts are still trying to predict that bleeding-edge technology will herald the bull market.
The reason why people are very happy about ETFs is because everyone is anticipating whether it'll be the catalyst. But at the moment, people are strapped to their monitors, waiting for positive or negative news to either FOMO or FUD.
This bear market feels like the longest
.....because 2023 has not created a steady momentum where price significantly moves without being cut short. However, the length of the rampage even after a significant recovery in January is while there's still gloom in the market.
It takes a momentum for sentiments to change.
A lot of people are spending time analyzing the dip we're experiencing, but to be very honest, nothing is wrong.
While this bear market feels too hard to stomach, there's nothing wrong. 2019 was as terrible as what we currently have.
In fact, we had many institutional leaders calling crypto a scam, and fast-forward to 2023 a lot of them have changed their stances.
Innovation and adoption are happening, even if the price is depressing. There were times in 2015 when it felt like the Stone Age and crypto would die a horrible death, but 2017 happened.
There are times when the bear market, creates illusions of disaster, making people wonder what might be wrong. Projects without substance indeed die in the bear market.
Take a look at hive
While the external market keeps a depressing outlook, the energy and vibe are still here, on Hive, and people are building. In 2019, there was a massive exodus on Steemit (the old chain).
Many people built hubs and projects sponsored by whales in 2017, but in 2019, these projects died and their owners left in droves because they had no substance apart from the money that kept them going. It's a different scenery here.
Thousands of people are still playing splinterlands, investing and building irrespective of the humongous drop in price when the bull market happened.
The bear market will lose some part of its sting when projects build substance that fosters continuity. The mass exodus that happened on Steemit in 2019 felt like checkmate and that we were done for, but 2021 became a massive year on Hive.
Like I said, when the money is snuffed out, activities tend to drop. It's normal, it's not the apocalypse, We've not gotten to that time in crypto where activities will remain as they were with the inception of the bear market, we're still ridiculously far away.
Innovations will not happen based on our level of expectancy.
Generally, Hive feels good, better than the bear market environment in 2019, (2019 was far more depressing) I know we've not done well in terms of the numbers, and we should be doing better, but sometimes, the level of scrutiny is higher when price is down, this isn't to make excuse, sometimes, people react based on their fears, doubts, and desperation.
The 20% HBD APR reduction proposal has received a mixed sentimental reaction, this is a testament to how badly people want to change things or maintain stability.
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Hah! Thank goodness, I did not pause my entry and race over to your blog when Gina notified me of your post. I would have stolen some of your ideas and made my post better 😆😆
By the way, the bear market is really testing our patience. The SEC is not even helping matters.
But the best part of this particular bear season compared to the ones we had in the past is that a lot of people who were against crypto then are in support now... This is your words.. not mine... Lol... But going through history, you are right.
Right now, Hive is doing amazingly well even though the market is depressing. If we stand our ground, the bull season will bring us a huge reward for waiting patiently and building confidently.
Lol, just tell me how much you want to be paying and I'll be enriching you with historic occurrences and giving you my analysis of the market.
You're right, the market feels worse because the bear was heralded by bad actors, and the impact has been unbelievably bad. Nevertheless, it's the crypto phase we're in. After the Bitcoin halving next year, some of these market sentiment will change.
Not support per se. They're mostly changing their stance and even Micheal Saylor who was indifferent towards crypto is now one of the biggest adopters.
The market will recover in its time and only the rugged will come out on the other side.
Hahahaha ... 0.5 HBD 🏃🏾♀️🏃🏾♀️🏃🏾♀️
I am looking forward to it. I hope we will see better adoption.
Now I have to pay to learn the right words and phrases too.. hahaha 😂
Fine! Extra 0.5 HBD 🏃🏾♀️🏃🏾♀️🏃🏾♀️😂😂😂
Why does this feel like waiting for the coming of the Lord? 🥺
Not to FUD in on you, it's the way it is. However, most predictions are tilting towards few months after the halving for the bullish signs. We might have seen the bottom in November, so before and after thr halving is always crucial. Overall mid to ending of 2024
Okay. My heart is at rest now. FUD has nothing on me.. lol..
Very insightful
Thank You
What is insightful about the post?
The fact that you went into details and analyzed carefully hive and bear markets; I've learned a lot I didn't even know about
Oh of course, thanks for reading.
Speculators will speculate... That's their job... Agree with you about the current sentiment and also agree that it was much worse on the legacy chain 4 years ago... It doesn't mean that we will not have more pain, but it means that we have a healthier situation...
Also, we have many more real HODLers that don't want to sell, or in our case unstake their tokens... All that leads to having fewer liquid tokens (BTC, HIVE), and that gives more space for speculators to move the price with less money needed...
I have picked this post on behalf of the @OurPick project which will be highlighted in the next post!
It's true, this does not take away the pain in any way. However, I'm optimistic in the present Hive we are building, we have more people who wants to build and hold as well as keep their stake. I feel that it wasn't as bad as it was in the past. So we can only get better from here. As for speculators, it crazy what their impact is doing to the market. However, I guess it's what it is.
Thank you for the pick and the curation as well.
I agree that there is too much speculation and a lot of people are so fixated on the price. In a way, I agree that there is a battle for change and stability. Nothing stays the same forever, and I understand that people want to make that change. That is why it's good to have the discussions and I think it is also making governance a matter that is important. Whether it be for the HBD interest or for things like the LeoFinance Proposal.
When it comes to proposals and governance, it's better to create a path towards communication. When there's no communication, as only have groups on individuals claiming to be decentralized. I think people partaking in the discussion will make it easier to establish a common ground. For now, I still see HBD remaining at 20% because of the power of the community and the response.
Whenever I read your post about the market analysis of crypto , I feel encouraged because you are always updated with great info at all times. I was thinking that the bear market we are experiencing now is severe but reading that now was better than 2019 bear market experience, which I knew nothing about crypto then, I have hope that soon, we will smile as we keep building with Patience and confidence,. while trusting the system.
Hahaha The bear market of 2019 was worse mainly because crypto was still going through legitimacy crises, even if we didn't have some serious bad actors like we did in the past. Nowadays, we're fighting the SEC and innovations have happened. In reality, what we currently have and how far we've gone is better than 2019.
Honestly, I have never seen a bear market as long as this. So many people are hoping that the next bull run happens soon but it is taking too much time and it is tiring...lol
At the same time, I'm glad that SEC failed again this time and I think that was what made the price pump a bit
The bull market is still over a year before it begins to suffice or before we begin to see bullish signs here and there. So, hold tight and prepare for the long ride ahead.
Yay! 🤗
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It is a fact that at this time the market will first be taken up and then brought down in the same way this year will pass and then we will see when the next year comes and then go to the market. Which is what we're going to see going up properly because within the next year there's halving and on every long we've seen that the market has definitely gone up, so don't worry. This is the best time to buy while it's running and if the market goes down, add some more money.
Exactly, the present is actually the best time to invest like you've pointed out.
Yeah you are right.