Bitcoin Forum

Chinese Analysts Say Bitcoin Bear Market Likely to Continue In 2019

Chinese analysts expect the current bitcoin bear market to continue in 2019, contradicting the bullish projections of crypto bulls like Mike Novogratz, who predicts that the bitcoin price will hit record highs this year.

“In 2018, bitcoin became an investment black hole,” according to the state-run Beijing News. “Entering 2019, bitcoin prices are still showing signs of decline, and there is no obvious rebound.

For bitcoin’s trend in the new year, pessimism is more dominant.

Xiao Lei, a currency policy analyst, attributed the Crypto Winter to the meteoric price spikes that virtual currencies experienced in 2017, saying such explosive growth was unsustainable. As a result, the market reacted by tumbling.

“The price of bitcoin rose more than 20 times in 2017. That increase is definitely unsustainable,” Lei says.

https://www.ccn.com/chinese-analysts-say-bitcoin-bear-market-likely-to-continue-in-2019/

To me it's more easier to believe in such news than in optimistic ones. Time showed that the second time do not come true in the case of bitcoin. By such temps we may see 1k$ price and even lower this year. I believe only next halwing will be able to change the situation.

i'm pretty sure they're referencing his old comments from september/october. his more recent comments from last month were along the lines of "the crash won't go much deeper than this" and "$3k-$6k range".

i'm glad to see everyone's gotten really bearish though. it bodes well for price because it means everyone has sold. everywhere i look---social media, the forums, my trading groups---people are saying the bottom isn't in, "triple digits incoming" etc. sentiment has done nearly a full 180 since before the crash. that doesn't mean the bottom is in, but if not, it definitely means we're getting close.


^^^ case in point. even the noobs are bearish.

"Entering 2019, bitcoin prices are still showing signs of decline, and there is no obvious rebound."

No one said that Bitcoin will go up from the first days of the beginning of 2019. It’s ridiculous to cling so hard to numbers. Bitcoin will rise in price anyway, this is the law of the market: after a rapid increase, the same wave of growth occurs. We all just need more patience.

Maybe there is some truth in this article saying that 2017 was a bubble waiting to be burst, which eventually happened in 2018. However, the analyst is from China, he might be creating uncertainties because we all know that China is hostile against Bitcoin. Yes, there might be a lot of noobs who entered at its peaked in 2017 but they got burned already and its a indication that maybe what's left are smart investors or speculators and really knows that the market can fully recovered in the next two years, specially prior or after the next Bitcoin block halving.

No one knows but its possible and i agree with those valid points had been mentioned and im aint even expecting for this year 2019 to be bullish anytime soon even though we do have upcoming events to happen
like ETF & BAKKT but i dont see it would be enough to trigger out price recovery or reversal. For the next Bitcoin block halving i would rather believe this even would give significant impact but this would happen on for more years.

Most likely, that will be so. I am more inclined to trust Chinese analysts than others. However, at the same time, I don’t think that Bitcoin will still drop significantly in price, especially up to $ 1,000. Most likely, the price will float, perhaps even with a slight rise.

Why are you more inclined to trust them than other "analysts"?

And no, I'm not kidding, I want to know your answer. And while you are thinking this over, let me make a guess. Do you trust them because their lies are more elaborate and thus looking more like truth? As they say, half truths are worse than outright lies. I suspect the same approach is applicable to these so-called "analysts". If anything, it is the lie you believe that is going to make you cry, not the one which you don't. So beware of Chinese analysts and their stories

At the end of 2017 there was a price increase. Then until that moment there was a gradual decline. So again there will be a rise soon! Am I wrong? It seems to me that everything is very simple, you just need to follow the laws of the market.

That is why it is difficult for me to trust this analyst. This is the first negative prediction have read in the last one month, more or less of 1% negative prediction have read. It is nothing to consider for now.

In my opinion, no one can yet tell where the market will go this year. The probability of continuing the bear market is about the same as its growth. Moreover, the probability of a large rise in the cryptocurrency market is insignificant. In many respects this will depend on the events in each state that will occur in relation to the cryptocurrency, its further legalization and regulation. Especially regulating the activities of ICO, this activity greatly affects the overall state of the cryptocurrency market.

It looks simple afterwards, but it's a completely different story right now. Suddenly all the so called experts have nothing left to hold on to, and they figured out that it's better to lay low for a while, because saying nothing is better than saying something that with a high probability is wrong. In 2017 things were different, everything positive you said about the market with a high probability became reality.

You could buy ANY coin without paying attention to fundamentals or how shitty it is, and do extremely well. Seriously, it was harder to lose money than to make money. Crazy time it was. :D

The only ones back then complaining about the fees were no coiners, because that gave them something to trash talk Bitcoin and point out how it can't be a currency. Most people here didn't give a damn because they gladly paid the fees, because their rewards greatly exceeded that what they 'lost' in fees.

I have read like this predictions from 2018 and i guess this is something we must believe in,market will continue dumping for this 2019 as theres no indications of ETF and the market keeps on going red and green so i only hope that atleast we can have some good movements this 2019

So what would be the laws of the market?and when was that soon be happening?anyone of us can say bukl market will come soon,but the specific date cannot be provided because of volatility

The price of Bitcoin in 2019 should grow at least a little. If this doesn't happen, then most investors will take their money back and Bitcoin will be used not for earnings, but for specific purposes (anonymous buying something in stores, as before).