The bearish cryptocurrency market has set off crypto winter that has led many investors to question if they should hodl the investments for some more time or not. The downtrend of the market has been perceived under different light by different crypto investors.
In an interview, 200M_trader, a mysterious trader who had turned $200 million profit trading Ethereum in a single month, spoke about his investments and how crypto winter has affected him over the time. He commented that he had sold enough to live on during the last rally, gaining Bitcoin profits at $10,000 – $12,000 and Ethereum profits at $4500 – $1,200, and claims to now be unaffected by the current market conditions. He further comments that he had already experienced big downfall back in 2013 to 2015, and it just the matter of time when the big players will enter the market well and truly.
Speaking about bearish cryptocurrency market he suggested that the next Bitcoin block halving will serve as an additional trigger for growth, it may not be tremendous, but it is a growth. He said, “The closer this moment is, the closer is the end of the winter. I would advise you to count down the remaining days before halving, rather than count the number of days the bear market lasts, this figure will encourage optimism every day,” as mentioned on CCN.
Bearish Crypto Market A Boon
The bearish market has not proven to be a boon for most of the investors. – some companies had to cut down on staff, move the base, or just shut down operations. Whereas, for some, this market downtrend has brought good investment returns, especially, for the crypto lenders. They are the creditors of the crypto industry, and they have been finding strong demand from borrowers who want to borrow coins for short selling, as published in Cointelegraph.
Michael Moro, the chief executive officer of Genesis Captial, a company that facilitates crypto lending, stated in an interview that this bearish cryptocurrency market has certainly fuelled their growth. Genesis has processed $550 million during its first six months of activity. Also, he reportedly said that Genesis has issued $700 million in loans and about $140 million in loans outstanding with an average duration of six weeks.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]