Bitcoin Forum

Personally, I think and hope that a longer bear run throughout summer could potentially lead to the end of many projects that were created solely to cash in on the hype of crypto. My analysis is that less than 20% of crypto holders are invested because they believe in the utilization or general functionality of their coin or token. The overall market cap of all of crypto is around 30% of its stated amount on CoinMarketCap, IMO.

If crypto is going to continue to climb the mainstream latter in terms of quality investment tool, stability and actual utilization for the purpose many of these tokens/coins were originally created then we are going to need to purge some of the craziness. I am hoping this bear run will be the beginning of that process.

it won't happen because even if someone finally appeared to create a useful cryptocurrency it will be buried under hundreds of shitcoins. the more mainstream crypto becomes the more pump and dumpers will appear who are more interested in those shitcoins that can go up 1000% in a day and dump and lose the same 1000% the next day so that they could make a ton of profit from it in the shortest time possible.

It will certainly clean the market once again out of useless projects that don't worth $1, not the billions they had in market cap.

I'm expecting the total market cap to go down by 90% before even considering investing in anything again.

Dogecoin has become a pain in the butt coin thanks to genius clown Elon Musk. I hope all this crap will end one day and people will see who he really is. This guy must be ignored and left alone with his narcissistic ego.

All of these meme tokens are inspired by a coin that currently sits at no. 4 in market capitalization. You'll have to end that first before you can end all the copycats. That probably wouldn't happen since another popular and influential guy is backing it up.

It's fascinating to watch the current implosion and shows how easily hundreds of billions can vanish over the course of days. I have a strong feeling that many institutions and holders of large wallets have been dumping into this selling frenzy. This may scare off and quickly cool down interest from wall street banks, causing a sort of snowball effect. Heavy selling invokes even heavier selling because nobody want to be left with a bag of rocks. We're now 50%+ below the peak with small rebounds, showing it was vastly overvalued and the anti-green credentials seem to have stuck to crypto now. I wonder if some day we will look back on these times and consider them to be the "Tulip mania" phase of the 2020s where even supposed financial professionals started getting sucked in.

I have seen bloodbaths in the cryptocurrency market many times, so I calmly contemplate the current situation. I didn't bought expensive coins at a high price, so now I want to buy a dip. Honestly, I do not know how long the bears will trample the quotes, but I am almost sure that the strong support level has risen significantly. People saw the new ATH capitalization, so their minds, opinions and expectations have already changed.

Undoubtedly, most of shitty coins/tokens are likely to disappear after this bear run, but I think that the well-known meme coin will stay in the TOP-10 CoinMarketCap for a long time because one of the richest persons of the world vouched for it.

Personally, I would rather sit in a bearish trend for a few more years than watch this crazy market allow a lot of scam coins to rip off ordinary people.
The market is in dire need of cleansing, and what we are seeing now is exactly that.

The FOMO for shitcoin already ended and this article is worth to be read by any shitcoin investor who has been loosing their money.

https://cointelegraph.com/news/altcoin-roundup-bitcoin-price-crash-is-a-reminder-to-put-fundamentals-over-fear

The bear market will make anyone in competition to get out from the market and the early sellers will always become a winner in thbis case and we can take a look at the market. It's very good to see that the market is starting to clean the shitcoin although a small amount of people are still betting into the garbage coin.

Bear trend always kill the useless project so we will see a big decline on many shitcoins/memecoins because they have no purpose on this market but just a hype. I’m still hoping that this is a not a bear market yet, we still have a hope to reverse the trend, let’s focus on Bitcoin for now and hopefully to become more stable on a good price.

You presented your experience as I do, but the prediction base must be a good point. You didn't reveal, on what basis you predicted crypto future. I know that bear run kills so many shit coins or some average projects. I know some names of projects that return the money to investors because softcap didn't reach them. Now some of us know that panda finance project history. Overall, I don't think OP is right about his prediction.

NOPE, honestly...many were so happy when the altcoin season has come, they're getting more profitable out from these shitcoins that they got from joining the bounty campaign and I think they have the right to get compensated and get their rewards at a good price. Aren't you happy seeing them for just one day after months and years of holding they got the prize?
Anyway, their happiness has nearly come to an end. The bear season is coming near or even has started already so these people will still need to wait for another months and years, it is a long struggle for them.

It seemed like almost every day a new garbage token was getting hyped. Even mainstream publications were talking about ASS coin. The other day I watched an Instagram live stream where a porn star was interviewing an altcoin developer, who was really just some scammer with face tattoos, and they were trying to pump their new shitcoin. It was getting ridiculous. This is why I hate bullish periods. If dogecoin went to $0.01, I would be very happy and I hope every other altcoin gets dragged down along with it.

Unfortunately, I have bought some meme coins. Now the prices of those coins are getting cheaper and cheaper, almost zero dollars for now. The current big drop really kills meme coins, especially the coins with Dogs name.  :'(

Me, too. I also expect the bullish trend will continue again after this big drop. I have some top coins on my wallets and will plan to sell them if the prices can increase again. I am surprised the prices of those top coins can drop very significantly. I saw the prices already decrease more than 50%. Very very poor!!!!
Why do you want to focus on Bitcoin only? I think top altcoins need to consider as well.

What I think of it now is that the best approach to create new coins and to profit is to have the best marketing team and market the shit out of it and profit from those who will be foolish enough to invest. It's a marketing game now and it will never end for sure. A lot of people have profited from it and a lot of people will continue to do it because it's profitable to them.

I was even surprised when a game that I'm playing played Shibacoin song. Can't even find the song though.

I checked on coingecko many copy of DOGE only tokens of ERC20, BEP20 and SLP, those tokens very easy to created it. Without any product and tokenomic behind it, will make the price keep dropping. So becarefull to trade copy of DOGE.

After creating FUD on Bitcoin he has another tweet defending and going to the side of Cryptocurrency against its battle to fiat, he just tweeted this let's see if this will have an impact on the market, because of Elon Musk series of tweets about Cryptocurrency, we just found out that majority of us here are still immature and still supports and believes that the easiest money in Cryptocurrency are the pump and dump coins.

Actually just many but not all.
Elon Musk is hyping one of the memecoins already and it still looks like it doesn't gonna go anywhere and anytime.
Sure those other coins in lower rankings will fade out to obscurity, but celebrities hyping some coins wouldn't until a real bearish market without any celebrity manipulation comes.

This is a temporary solution to shitcoins being created in every bull circle, even if the bear succeed to purge out most of the shit meme coins created solely for the defi hype, once there is another bull circle more will be created, any new trend also brings along more shitcoins, so you see the solution to erase or wipe shitcoins is temporary.

Saw this meme on tweeter, yeah part of it are true, but real trader always has a fundamental analysis in trading are the one who gain the profit.

Cryptocurrency - 2010
Cryptocurrenc - 2011
Cryptocurren - 2012
Cryptocurre - 2013
Cryptocurr - 2014
Cryptocur -2015
Cryptocu-2016
Cryptoc-2017
Crypto-2018
Crypt-2019
Cryp-2020
Cry -2021

Real trader never cry  ;)

The meme coins will end by themselves, no need to thinking much about those coins. You do not have to follow their project as many other projects, which is more potential to increase in the short and long term. Maybe this year will be the year for the meme coins, making many developer-created meme coins to follow the trends. But if the meme coins are just for fun, they will end soon and the new trends will replace the existing trend.

Projects with potential or not have no big difference for investors since what makes many invests in potential projects is still to make big money out of them or probably hold to become big whales in future, I've seen shitcoins bury projects with potential just because investors prefer to invest in the shitcoins over the projects with potentials, investors don't care about potential much

It is very difficult to find a token that is really valuable these days because there are so many shitcoins that I can say 1:10 or even 1: 100.
looking for really good coins is like looking for a needle in a haystack for now as there are so many shitcoins that exist today.
other than that the pump is insane so much that shitcoin seems very valuable but in fact it is very bad to make an investment in the long term.
for now it is always necessary to be smart and nimble in choosing really good coins. Even if you want to take part in the shitcoin wave it's only temporary because it doesn't guarantee in the long term but for short-term profits with crazy pumps it can still be done

We should not expect the cryptocurrency market to be stable as it is a global market and no one controls these investment and majority of the coins in the market are meme or copied from the source of other coins and yet many were able to reach billions of dollars worth of valuation and when we are in a market like that and it is hard to predict whether these shitcoins will recover or die off after the main correction.

The market is being polluted by those meme/Shitcoins they are now being advertised too much and newbies are falling for it.
It is hard to choose right now the serious projects are being overtaken by those shit coins and as a trader we do what we must to gain so even if we don't really want those project we would buy it out in order to gain profit,
But you should also know as an investor to choose what crypto you would really support and HODL for the long term.

It looks like the market is in recovery and many Meme Coins are also recovering.  I do hope that this uptrend will continue and I don't care if Meme Coins will take the spotlight.  What I care is for the investors that bought on the peak to recover their losses.  People do invest to have profit but this current dump is simply intentional so that whales and  wealthy groups to  accumulate more.

I think it took this bear week to eliminate too much hype around useless token memes and extremely risky projects.
Now the Musk effect has been reset and we can continue to build solid projects that will be integrated into the society of tomorrow.

Cr - 2022
C- 2023
 ;D

For those who actively trade then they are the ones who arent really affected much with market volatility since they could always play with the game no matter what the trend is.

The ones who do cry is to those who do play or trade along with futures or margins which could really fucked you up or neither give you big profit out of these
very wide movements.

We cant tell about bearish run had been started but basing off with sentiments circling around then you can really tell that
it might be.

It looks like Bitcoin is recovering so many alts are following its trend.  I think that the recent dump are pure manipulation in order for the whales/big institution to buy crypto at a very huge discount (Bitcoin at almost 50% off).  Now that they accumulated enough, we see the chart turned green again.  I think Memecoins and shitcoins will stay.  No dump will ever eliminate these kinds of coins because when one dies out multiple appears to replace the forgotten one.

It's getting nearer to reached back to $4K slowly but really bringing a good momentum as of this moment, and yes, in regards with alts the market also showing bullish after that huge dumped.

Good for those who keeps on chasing the dip and managed to buy more alts while the value was dumping, they can now simply sell it out or wait for better value.

Most of the time, those who can take the risk always gained much higher profits once the bounce happened.

Its no, if its happen it will just temporary, useful crypto will grow slowly with the community while the sh*t one will ended fast.
I believe many trader only put small portion on the shitcoin just for fun while they invest the most on the good project.

Let me stop you right here. Bear market hasn't started, and it probably won't till the end of the year.
What you're seeing now is pure and simple market manipulation

Don't you worry, they'll have their own fate as the market shakes the weak hands and as well as sucking all of those meme coins market cap. Good for those who have sold and didn't become greedy and taken their profit with those meme coins.
But that's bad for those who have depended on them and thought that it's going to be a good long term choice.

I understand where you are coming from @poster, and in as much as i agree with you, i dont think the bear market will purge the shitcoin meme coins out, or let me just say that this is but a temporary solution to a very long term problem.
Think of it this way, whether bear or bull market wont last forever, there will always be the mixture of the two, so lets take for example we are in a bear market and this shitcoins happens to die out of the market, what do you think will happen when the bull comes back? alot of new shitcoins will still spring up to take advantage of the market in that moment .
And i also agree with you that less than 30 percent of investors invest in a project or buy a coin for it utility, but you will agree with me that its same like this for all other investment sectors, this act is not limited to the crypto currency space alone, think about the forex market, think about the stock market, think about real estate... alot of people in the world are in need of money and they are all looking for where to invest to help them earn money , very few people, far less than 30 percent invest for utility purposes.

Every memecoin lovers are still hoping that Elon will create fomo again for dogecoin and other memecoins/shitcoins will pump again. But it won't have that much effect for longer period of time. Vitalik already said that Elon's tweet won't have the same influence forever and we already see how others react on the current correction as many of them already realize that memecoins are nothing but only shitcoins. Also, we don't need bear market for the end of the meme/shitcoins as it's just an hype which will be replaced again by NFT hype. So, meme/shitcoin hype will end soon without bear market.  ;)

meme coins will not disappear that easily. not until all the investors and newbies will reject them. just yesterday i encounter a project on facebook where a user posted $FREN token whose logo is a dog (again). i guess it doesn't matter anymore whether the project will be for the long term or not as long as they profit from it.
$safemoon for example, if you just read the details, you will be astonished that someone actually thinks it's legitimate.

As long as there are naive buyers of these meme tokens, they will exist. Because most of these investors are aiming for high profits at a short period of time. Most of these tokens have no reasons to exist in the first place. They are just created for the hope that they can deceive users and devs gain money. As you noticed, most of them are anonymous team, so yes, they can easily disappear when they got their pockets full. Anyway, they only invest small resources to deploy their project.

I don't think that meme/shitcoins will end because of this bear run. Well, as we know that every time, there is a new project offering their coin or token which is definitely still new. And many of them are shitcoins, only creating the projects based on the hype condition at that time, raising money, and then leaving the project deadly without any consideration to investors.
This is actually a scam but in the form of a crypto project.
When there are new methods or project types, there will be also many new projects that follow. Like what happens to DeFi projects, BSC, and many others.

Dogecoin should be the one to suffer first, its hype should end and the rest of shitcoins in the market. But some may seem knew that bear won’t last. Instead of people bringing to invest in real crypto assets, people tend to fall on shitcoins first because of the massive hype.

We can not avoid sh*tcoin created on the market because easy to create it by using blockchain smart contract, and also less regulation in crypto space. There are also many competitor of blockchain smart contract now. On the cryptotracker of Coinmarketcap mention the total of crypto/coins more than 10,000, and mostly consist of tokens of ERC20 and BEP20. As investor, we should be more diligent to select it.

It looks like the bear market hasn't happened yet as the sell-off is over and buying continues to prevail.
Coin memes continue to be popular. DOGE has been in the TOP5 Crypto with the largest market capitalization after BTC, ETH, USDT and XRP. During the recent drop, most of the old and new cryptocurrencies fell 2-5x but with DOGE it was less than 2x.
I think the coin meme is still trending in the market.

I guess not just dogecoin will suffer because many coins are getting the same as dogecoin, especially if bitcoin still go down to the bottom. But the bear will not stay on the market forever. Maybe the bear can remain for a long time, but the bear will disappear soon and the bull run will come and give us the profit. We can not deny that this year, maybe many meme coins will come out and fill the market and attract many people to invest because people want to profit from meme coins.

I have checked on the price of many coins, I understand that the high cap ones like bitcoin, ethereum and BNB went low but some of them went down more than the others. Look at BNB for example they were third in spot right? So everything went down which means bnb should go down as well but not in spot, they should still be in third spot and just down as much as the others? Well they are now 5th in spot and they were even 6th at some point because it went down even more than the others.

The only reason for that is the fact that there were a lot of shitcoins in BSC and they went down so much that some of them actually ended up being 90% down and that caused BSC to go down more than the other ones and that is the main reason. This is why I am not really shocked about what happened to bnb, and what happens to memecoins and shitcoins, they are the first ones people leave when a crash happens.

Expect something like this to happen in the bull run, many developers know that investors are looking for a project that is on hype so they can make short term profit and Elon started the hype with his Dogecoin support, some of them are DeFi based token and farming tokens like SafeMoon and Safemars, these projects are risky but many people are supporting it.

Futures trade spark and rekindle greediness, but if someone want's a stable and low risk trade, Spot trading is the best it will not give a huge profit like futures trade but if you take a serious study and analysis you can get a good profit no matter what market outcome.

Yes, I would also think many of the meme/shitcoins will disappear in the bear run. Doge will suffer a lot during the bear run including shit coins. I feel sad when most of the investors are enticed towards meme or shitcoin in order to make quick money but in the end when they will lose they will blame the crypto market So investors should also think logically and invest in traditional coins rather than meme or shit coins. Apart from this investors or traders should not take Elon's tweet seriously about doge & Btc.

I can't name the meme coins that have wrecked the market. Even then, during a bear market, they will be carried away faster than other altcoin prices that are still considered not classified as shitcoins. that's the impact when everyone continues to glorify memecoin that relies on tweets and tweets. Their weakness is very clear. and the crypto industry doesn't need a full tweet just toying with the price. it is no longer decentralized, but centralized.

The point is that most persons are in the cryptocurrency space basically for the money that explains why it would be difficult, if not impossible to rule out sheet coin, most people are on the look out for coin that could increase by 10000% overnight and any project that can give that is cherished. The bearish trend is part of the process to bring sanity to the market.

this is very easy to talk about but very difficult to do because of all of us in crypto not all of us have the same thoughts about this meme coin even more so if the meme coin already has billionaires who are ready to back up and promote it will be very difficult for people who do not have the power and has no supporters in the opinion that this is wrong.
all they (newbies & fomo) know is how to follow these billionaires and profit without them realizing the real danger that lies behind them

If you look at it now, I actually prefer to sit and see how this bearish season is going because with this bear I hope the market is more optimal in cleaning up because for me now there are too many shitcoins and there needs to be this kind of cleaning so that at least their number can be reduced. and judging by now it looks like there's been a bit of progress and a partial cleanup could take place.
and for those of you who are still buying shitcoin hoping for a pump and backup from billionaires, I think you should immediately improve your thinking and start thinking in a brighter direction

I wouldn't really claim it "ruined" the market but it didn't help that dogecoin got up incredibly high, it was literally 0.003 cents, now it is 23 cents, and at its peak it was 70 cents! You know how much money required to make a coin that high? Too much, billions of dollars total need to be bought and not sold in order to make it that high.

So, did it ruined? I do not think so, but it sure did not help because instead of a lowly memecoin getting that much attention, if we had like the top three got that attention we could have seen them a lot higher, give the same amount of money to bitcoin and we could have been 70k+ easily, maybe even more. So was this drop caused by memecoins? I am sure it was not, but it also hurt the fact that other coins at the top could have made us all a lot more money but instead it just went on a coin that eventually became a joke.

the market is still fluctuating we cannot speak of a bear phase yet, and in any case if we look at the values ​​at the end of 2017 it is still in a bull phase, many of the meme coins as useless would have disappeared regardless of the market trend

yep, I agree with you, it's not easy to increase the price many times in a short time. It takes a lot of energy and this coincidence is driven by the richest man in the world. A special blessing for this doge who got lucky. This is not a disaster, if there are price fluctuations it is a natural thing in trading.

Market crash always exposes fake coins. The crypto market has faced the challenges of fake coins which are produced solely to cash in on the bull market with no future relevance or usability. These game coins have made it hard for the real legit coins to survive in the market because of their dominance.

I think the current market conditions are not because of these things anymore. I think it's a matter of banning mining in China for big companies there that start mining businesses there. and for the meme coin issue i'm not really interested except doge . I've been using it for a long time, not because of Elon. and i don't believe other memes coin for my investment asset .

I think not. It has been shown in the last bear market of 2018-2020 that many shitcoins disappear, but there is still some surviving. And especially in subsequent bull markets, new shitcoins then come shooting out of the ground. This seems to be a never ending cycle.

The fact of the matter is that even with the psychode of the altcoin season, many see their prize but do not fix it,
they have forgotten past mistakes, and in the end they continue to shout "we need more", how does it all end? Correction. The bear market is just around the corner, there is no eternal growth.