The gains from the recent cryptocurrency bearish moment.

[Ahmedo24]

For the two months the Crypto currency market has been experiencing a serious bearish moment that has made some Investors lost huge amount of money due to pannic sales, it has also caused confusion on the intending Investors as to when to buy the dip because the recovery is not directional.
However the bearish has also come with it gains in my opinion , during this moment. Miners are force to find alternative source of energy to mine cryptocurrencies which is good one, lots of countries has legalized cryptocurrencies like El-Salvador while some like Indian, Tanzania and Nigeria are working on exploring cryptocurrencies, global miners organization was also formed. Many others that I can't recall.

Share your opinion or updates on likely gains in the Crypto currency ecosystem during the bearish moment.

 

[Deleted member 28127]

If it can be possible switch altcoins to stable coin then when establish purchase convert them back to altcoin like for example move money from litecoin to USDT and when purchase make reverse operation convert USDT to litecoin to not suffer from crypto currency bearish so life is simple so you don't have to make a store of all your coins in altcoins that have loses due to inflations as simple as that. If you let all your coins in altcoin like dogecoin or litecoin or dash you may suffer from inflation.

 

[Bookwormlux]

If I am to talk about the gains, I would say it provided a very good entry point for those who have been thinking about investing in Crypto Currencies but were not able to afford it when prices went high. This is the only good I can say about the current bearish market.

 

[btaliat]

If I am to talk about the gains, I would say it provided a very good entry point for those who have been thinking about investing in Crypto Currencies but were not able to afford it when prices went high. This is the only good I can say about the current bearish market.

That's just it. Most of people that are new to crypto are now investing heavily in it. Some are just waiting for this time because they could not afford the price when it was high. Besides, just like the poster noticed, many countries are now considering crypto including Nigeria that has earlier banned and regulated activites in banking sector.

 

[Bookwormlux]

That's just it. Most of people that are new to crypto are now investing heavily in it. Some are just waiting for this time because they could not afford the price when it was high. Besides, just like the poster noticed, many countries are now considering crypto including Nigeria that has earlier banned and regulated activites in banking sector.

Is there any update about Nigeria considering crypto currencies? Ever since the ban was implemented I have not read about any update saying the Nigerian government is ready to adopt crypto currencies or similar news. It would be good of they change their minds seriously.

 

[sincerem]

It has helped to reduce the high level of gas fee around ETH and BTC. When the coins are dropping so do the gas fee. If the amount becomes high the gas fee increases too. Now that the coins are languishing on the low, the gas fee is simply reduced too. With the information of El-salvador govt prioritizing BTC as means of boosting its country's economic situation is worthwhile, i believe our dear country Nigeria have gotten some positive there. And they've considered lifting the partial ban on crypto and prioritizing it too. Its simply a welcome boost that India, China, Nigeria etc, that have mixed intention around crypto is beginning to reason it, and having solutions to welcome it back.

 

[Ahmedo24]

The issue of Gas fee in respect to ethereum and Bitcoin transaction one may not consider it has gains because they are temporary just as you said @sincerem , if the price are up the gas will return back but it will be come a gain if bitcoin and ethereum improve on their gas fee transactions which ethereum is almost done with the improvement activities. Nigerla is working to launch their CBDC before the end of this year hopefully.

 

[sincerem]

The issue of Gas fee in respect to ethereum and Bitcoin transaction one may not consider it has gains because they are temporary just as you said @sincerem , if the price are up the gas will return back but it will be come a gain if bitcoin and ethereum improve on their gas fee transactions which ethereum is almost done with the improvement activities. Nigerla is working to launch their CBDC before the end of this year hopefully.

Yes, we all know that crypto works that way when it comes to charges for transactions fees. If the coin is on demand it will make the gas fee charges to be high and unbearable for the small investors. When the opposite occurs it becomes normal for the investors to transact. It will be a welcomed one when the CBDC is launched this year.

 

[Lens1000]

Which ever way the prices of the digital currency go- up or down , bearish or bullish, there is always an opportunity hidden.
When the price go dips, you will be able to purchase more coins at a lower amount of money and when the price rises you will smike to the bank because you must have make a huge profit .
The persistent bearish movement teach us on how to manage risk when Investing in crypto market .

 

[Ahmedo24]

@Lens1000, you are right because without bearish moment there might not be more Investors having the opportunity to invest in cryptocurrencies , also with this bearish moment Investors are more aware that it is not always green in cryptocurrency Investments there are moments of red which is not advisable for people to make panic sales. So we keep learning on daily basis.

 

[sincerem]

With your view when it concerns crypto investment it shows you're well acquainted and knowledgeable around crypto. The bearish market allows us to have the chance of making profit in the future. Those who invest big during the bear market have every chance of making profit in the long run when they holdl for long time waiting for it to go bullish.

 

[Sotherefore]

I lost almost 50% of my total cryptocurrency asset during the crashing of cryptocurrency,it was actually a difficult time for most of the crypto trader but even with that as you said it comes with advantages because El Salvador has promise to give citizen for people who invested 3 BTC in the development and economy of the country.

 

[Ahmedo24]

I lost almost 50% of my total cryptocurrency asset during the crashing of cryptocurrency,it was actually a difficult time for most of the crypto trader but even with that as you said it comes with advantages because El Salvador has promise to give citizen for people who invested 3 BTC in the development and economy of the country.

That's a great move buy a country and the country is already in discussion with relevant agencies on how they can be paying their worker salary using cryptocurrencies. I hope you are still holding most of your assets and you have not made panic sales because of the market crash. I am very optimistic that the market will recover we just need patience to achieve that. The gains are yet to push the market up.