A Week of Reprieve from the Bear Market
December 20 2018 - 1:31PM
InvestorsHub NewsWire
Bitcoin Global News (BGN)
December 20, 2018 -- ADVFN Crypto NewsWire -- After nearly a year
of red, we have finally experienced a week of green in terms of
crypto market growth. With this, the logical question the tip of
everyone’s tongues is: why now? Following this, because of what
happened last year, some may be asking if this is simply some sort
of reprise of last year’s events.
In an article published today,
Cointelegraph reported that over the past 24 hours, Bitcoin Cash
has been experiencing the most growth, with Bitcoin SV quite close
behind. Even so, when the same data that they cite is considered
over the course of a month, both assets appear to be 50% down or
more.
Overall, given that Bitcoin is up
by about $1000 this week, the answer to why we are experiencing
such an upturn appears at least partially clear. As has been
suggested time and time again, when Bitcoin is up, so is the rest
of the crypto market.
Whether this has to do with some
sort of positive news for the space remains to be seen. It is true
that speculation on the next asset to be listed on Coinbase could
have something to do with an element of the market’s upswing. At
the same time, the answer to the market’s upswing could simply be
that the negative news cycle has lessened somewhat, in comparison
to how it has been for the better part of this year.
In the end, knowing exactly why the
market is experiencing green after such a long period of red is
nearly impossible due to the industry’s early state. What is
arguably more important is that we remember that focusing on
tangible, technical developments will engender true long-term,
instead of only short-term growth.
Wild price speculation is the major
reason that this bear market began. Moving away from that habit
could end it for a longer period of time.
By: BGN Editorial Staff
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