Bitcoin Forum

 
Many crypto exchanges are laying off employees. Recentlycelsius recently has limited the withdrawal
Bill Gates  has called  Crypto, NFTs as Based on ‘Greater-Fool’ Theory
Yet many other well read people like American billionaire businessman David Rubenstein said that crypto would not go anywhere despite the ongoing market correction.

How long will this market correction will continue and where will this stop.. and where will Bitcoin stabalize

What's the connection of Bill Gate's statement to the topic crypto winter?

Maybe it will continue until the first half of 2023 (could be shorter). BTC could go as low as $18K to $15K during that span. I don't know where the price is going to stabilize though. It will be nice if BTC could bounce above $25K and stay around that level for months but I'm not that optimistic. I guess we'll just have to wait and see. Right now, the bears seems exhausted pushing the price further.

It is not just the people you named who are basically saying altcoins are useless. We all know it and we all have been saying that altcoins are useless. They have no future and the "Greater-Fool theory" is describing the situation in altcoin market very well.

But none of it has anything to do with bitcoin and what it is or isn't going to do in the future.

It depends on what market you are talking about.
Since you use the term "crypto" then I have to say what is happening in the altcoin market is not a correction it is a dump and it didn't start recently to stop, it started in 2018 and has been ongoing.

What we have in bitcoin is also not a correction, it is a crash and since it is not a logical market behavior it is not possible to predict when it will stop.

I don't know what is Greater-Fool Theory but for me, I will be a fool if I will follow what Bill Gates will say that relates to crypto.

It's very hard to predict.
During the 2017-2018, the correction took 371 days before it reaches the bottom and after that it started to recover again. Base on what happen, we can say that it might be at least 371 days or more than 371 days before it will start to recover again. Maybe don't focus on that part and just focus on accumulating while everything is down. Take note that profits are being made mostly in a bear market.

Stabilization of Bitcoin? Nahhh you're dreaming right? Bitcoin will never stabilize because many consider it as an asset and assets are volatile in nature.

Look at the bigger picture! Do you think only crypto is affected? Look at the global stock markets! Today morning I looked at my stock portfolio and it mostly in red except some well performing companies. My crypto portfolio is also in red except ETH which I acquired at $450 range. So the global market is crashing. It's not only cryptocurrency. So I don't bother what others are saying and what theory is being invented, crypto is here to stay for our lifetime! So I am indeed acquiring more bitcoin as per the limit of my pocket. Crypto winter usually lasts for 3 years as seen in the previous instance but no one really knows what will be the reality this time.

Also I agree to Bill gates on NFT. It is indeed a scammer's tool and a playground for money launderers. So NFT may go down to drain rightfully, but crypto is indeed going through a bad time like any other markets and it is the best time to invest in.

Yeah, just a normal correction or a winter market which is normal for a market. We all know that there will be always a bear market and bull market, it's not always "UP ONLY".
Another thing for me is if you notice, it's not only the cryptocurrency market that suffers, look at other markets especially stock markets, blue chips, or internet companies, and most of them are bloody too, so for me, very natural.

its the same scenario as in 2018...2-5 years of cold days in front of us...than booom

They can say what they want about crypto, the good thing is investors have their own opinion on what they want to put their money on.
Crypto winter has nothing to do with Bill Gates's statement or David Rubenstein, this is a circle that occurs at certain periods which most crypto investors are already aware of.

Because of the economic situation, many none crypto businesses are also laying off employees, it is not only crypto exchanges that are downsizing.
Not sure anyone can give a specific date when the bleeding will stop or at what price btc will stabilize.

There have been few guesses about where the price could drop to but as you know it is all speculation,  nothing specific, my suggestion will be you keep yourself up to date with the market situation.

At times like this you have to ask yourselves if this is the same bitcoin people were paying 60k for, or not. What is the reason that it went down in price. Is this Bitcoin's flaw? If it is, you should worry. Like when you hold stocks of a car company and the company stops making cars because one of its factories went up in flames or there's a war in the country where it produces, it's time to sell.
In case of Bitcoin there's nothing wrong with it. Its price went down due to Luna dump that caused panic and because of high inflation in the USA that causes stocks to lose value and stock investors are selling everything they hold including cryptocurrencies. It doesn't mean cryptocurrencies are bad, it's just investors going bust and selling at at a loss to cover debt.

I keep holding and I'm going to continue, regardless of the price. If it goes to 10k, I'll still have the same number of coins that I had at 30k. None of these prices satisfy me enough to sell.

We're already know right both of crypto aka altcoins and NFT are just a tools to fool people without needed of Bill Gates to pointed out.

The other thing is you and anyone shouldn't only rely from those billionaire of expert e.g. David Rubenstein, why you're rely your money to him? If you get a profit by following his advice, then it's lucky, while it's otherwise, he wouldn't give any compensate to you. Be wise and only believe what you're believing right now.

If you think some of us knew how to accurately predict markets — chances are, we wouldn't be on our computers all day but instead would be at some nice beach in the Bahamas with some nice beers and beautiful women.

In the short term we can only speculate and at this point no one can say when the current collapse will stop - but in the long term (if the pattern repeats itself) we can assume that the new big bull run will only happen after halving 2024. Of course there is always a chance that some super good news will appear and reverse the trend, but apart from the possible approval of the spot BTC ETF in the US about which there is some speculation, I do not see any light at the end of the tunnel in the short term.

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After being left alone in a house with 18 bathrooms, he began to demand more and more public attention, so he talks about a lot of things he has no idea about - but he seems to be most interested in a pandemic, not one that lasts, but a new one that will be a little more efficient in terms of depopulating the world.

No one knows how long this market correction will continue, when it will stop and when bitcoin will stabilize and rise again. We can all only guess while predicting the time, but we don't have a definite answer. Maybe now is the crypto winter as it has happened before but we should not despair because this is the best time to invest and we already know there are many good projects we can use as investments. But don't forget to invest in bitcoin because bitcoin is our main asset or investment in crypto.

The market meltdown and the suddenly disable on withdrawals of some platforms are very relevant to remind people again "Not your keys, not your coins"

Use non-custodial wallets to store your coin, not custodial wallets, not exchanges, not lending platforms.

• https://cryptosec.info/nyknyc/

Forget about them. They are old and they don't mind to join new technology trend.

How long will it last depends on what phase we are in right now.

Why should you care what others say when you are a direct market participant and not them. The market is going through a strong correction and this is not the first time bitcoin has dropped in price so there is no need to worry, no one can say exactly when this bear wave will end, it could end tomorrow or it could last for another 2 3 years. Nobody knows. As long as you don't panic and keep holding, I'm sure the market will bounce back in the future.

I agree with what @Minecache say, so far we know that bitcoin is a speculative asset and it is clear that many factors will affect its price movement in the market, as now the price of bitcoin tends to fall quite sharply, but without us realizing it when we panic, we too have contributed to the price decline that occurred, if we all could be patient and not panic selling of course the price of bitcoin would not fall this badly, because after all supply and demand are the main factors determining the price of bitcoin in the market.

The answer is quite simple, one can predict perfectly the current market situation. You may notice when the bear market comes, many haters criticize Bitcoin or cryptocurrency. It's just a try to create a FUD and a little try to prove the truth. But what happens always? We see bull again and a lot of good news comes together. This is crypto and pump dump always will exist. That's the reason actually why people live crypto. We can't ignore the truth.

There have been many episodes of mass hysteria in the past, sometimes they blow up and drop back down in the space of days, other times they keep going for years at a time. Cryptocurrency relies a large part of trust and simultaneously Bitcoin has been extremely volatile in recent history so it is a bit of a paradox. It seems to be a good short term tool for transferring good chunks of money around, potentially across borders, but due to it's instability it was never going to be a good long term investment. In some ways Bill Gates is right, for speculators they are only able to profit if the prices goes up between the time they buy and sell, otherwise they are destined to lose money as it doesn't produce anything in the meantime (unlike a company stock/share that pays out a portion of profits in different forms).

We are indeed facing a winter in the crypto market today, and i think the crypto prices are going to drop further in the next couple of days, so keep on hodling on. For those who are strong enough, this is just a normal scenario, while for those weak hands they fear that this crypto market would be over. However, for me, everything is normal, it's just that the market has terribly been bearish these days. And worst is, no one gets to predict correctly how long will it last. Just keep the faith and stay hodling. The market will always recover and we know that.

The people can say a lot regarding on what they are currently seeing or experiencing, but the fact remains that those who stay firm and able to hold their coins for long term will always be the winners in the end. Others have left and lose a lot. Although we can't say how long the market will stay the same, but if we always take the positive side and take advantage on every price drops, we will always be profitable when the market has finally recovers.

Even if there is no statements from a very well known person crypto would still experience a correction it is happened many times not only for today, if we look at the past or history of bitcoin we can saw a lot of correction from different year, so i think it is not the statements that affect the price of the coin there is no direct evidence that those statement affect the price, for me the down trend is normal btc is fully decentralized and i believe that no one can control the price even Bill gates or ellon musk their statement may have an effect but it will not last long so no basis if we will think that they are the reason for this downtrend.

If your mind capacity is only limited into this current big crash, then do not expect that you will go a long way in your crypto investments. Yes, we are currently having winter these days but it does not mean that crypto is over, its always a great start to buy all over again and hold them for future profits. Let others say what they want to say, but never follow them. Now is the best time for accumulation, even if we don't know when will it lasts.

Wrong. "Crypto" is not in a bear market, bitcoin is. The altcoins are just dumping simply because bitcoin price started making a big move which then attracted all the traders from altcoin market to bitcoin market. That has always caused an altcoin dump.

I have been saying this since the beginning of this year, when people were still saying we were in a delayed cycle and would pass $100K this year. I think even Dan Held was still betting on a supercycle at the beginning of the year.

Not until next halving are we going to beat last year's $70K ath. Where we are now we can call it winter or whatever, but great joys we won't have until next cycle.

Maybe a month, two months, or even a year.
The current bear market makes market conditions return to the bottom again as before the bull market came along, causing many people to suffer losses.
This cycle occurs continuously, especially after touching a new ATH, the price will go back down again and this time, the price will return to the bottom again.
But we must remain optimistic because this situation will change and the market will start to pick up again.
So prepare yourself by buying bitcoins and other potential coins so that you will have a chance to make a profit.

No one knows for certain how long this will last. It might be longer than expected, or it might be short.
However, I must say that this is a very trying times for cryptocurrency traders. A lot of individuals have lost their money and many have lost their jobs.
First I thought the war in Ukraine caused it, but right, I don't even know what the cause is anymore.
I hope the market recover soon enough so we can recover our losses.

Those are all great questions but no one has the answer. The situation doesn't look good at all, especially considering the whole global situation: we're not done yet with covid, inflations gets worse and worse, and there is a war that it's not gonna end anytime soon. This is gonna be a very difficult year.

I think that it is extremely difficult to make an accurate forecast now. You need to understand that the market is in a rather difficult situation and it is quite difficult to get an accurate forecast for the current situation.

But, why will they lay off employees anyway? The income of the exchangers are supposed to go high because many people are using them now to purchase a coin or to trade since volatility got even higher.

Crypto exchanges are offline, not some kind of an offline company that is affected by covid pandemic and as a result they will need to close or  lay off their employees. Bill gates might be correct on the nft part. He is right that those who invest on nft's are fool but not cryptos, crypto investors are wise and smart because they did not choose nft. They know that it's only just another hype. Bitcoin won't ever be stabilized because is its nature to be volatile and we don't know if how long this bear can last.

The crypto-winter is now in its seventh month. Since December last year, bitcoin has fallen from $46,000 to its current level of just over $20,000. Ethereum during this time has fallen in price from $3,600 to $1,090 now. It is possible that, as some predict, the market will lose another ten percent. But for now, no one knows how long this bearish period will last and how low the price of our cryptocurrency can fall. However, I don't think it will last for years, as many here claim. A long crypto-winter is not beneficial to anyone. A stagnant period in terms of price is also stagnant for the profits of participants in this market.

And there may be difficult years, because the correction may drag on for several years. It is better to immediately tune in to such an outcome of events and the best strategy would be "bought bitcoin and forgot" for a couple of years.

In general, I agree with you that the global situation is very complicated, constantly changing due to unpleasant surprises, and against this background it is almost impossible to make any forecasts, not to mention answers to OP's questions. There is nothing left but to observe the events and wait for the crypto winter to end.

One, I don't think there is anyone that can actually tell you when or where the bottom of this current market dip is, we can only speculate based on some market analysis. I however want to agree with David Rubenstein's position about the general crypto market. How many times have we seen Bitcoin be pronounced Dead? 452 times (https://99bitcoins.com/bitcoin-obituaries/) thus far and Bitcoin is still here. Yes, this might be another long wait for the market to bounce but it will be worth it at last if we invested wisely during this time.

Not only crypto winter is coming in, i can sense a complete VC winter setting in which means VCs all around the world are now trying to save their capital because recession can kick in anytime. For crypto too i think the winter is already going on since last November itself after the 69000 mark was hit the last time. Post that all we are seeing is complete bearishness only.

Crypto is here to stay no matter who speaks against it. May be there will be altcoins popping up here and there while some established altcoins may also die but bitcoin will stay.
It may take the end of next year to recover from the dump and until then the market will keep correcting and consolidating.
One who HODL strong will survive this fall and the rest will lose money selling at cheap prices.

Usually, the upsetting part takes about a year, but do not be worried because we are already about 6-8 months in. Last time we were up, was in October of 2021, which means that we have been falling ever since that day, maybe we weren't under 30k for a long time, but we haven't been close to our ATH price since that date.

This is why about a year or year and a half is reasonable and we could see the price going up in under a year. By this time next year in 2023 we could be over 50k or even be over 100k and I wouldn't be shocked at all. I hope that people would be able to hold until then without getting worried about what happens, 2018 was a crypto winter too but people made so much profit from that period if they bought it in 2018 and waited until 2021.

I think it's too early on to say how long it will last. Sometimes the price starts sharply jumping straight back up (of course, with some corrections along the way). Other times it can take 2-3 years (with some improvements along the way, which are then followed by further recessions). In any case, throughout its history, it has always recovered eventually. While that, of course, doesn't mean that it will always be this way, and the future can be unpredictable, it means there's good reason to believe that this time will be no different.
I think it'll only take a few months to see major improvements, but I can be wrong, just like anyone else. For those who have funds to spare, now is a great time to buy.

$20K has been breached which is sooner than I expected. It probably the result of the thousands of BTC moved to exchanges I read the other day. Anyway, it's still a long way to go and some people are now predicting BTC under $10K. In any case, keep those fiats ready ;D At this point, anything at $10K - 15K range is a great buy (maybe the biggest discount we'll ever get).

Those billionaires that haven't taken the spotlight of the crypto market will always tell something negative to push the price down for bitcoin. You've heard that even before from them and that's why they keep on telling that it's going nowhere but in reality, they're doing their thing and stacking as much as they can.

And knowing when this winter will last, no one will say that they know when.

Because if someone tells you that, he's like us who is just speculating the market.

This issue is complicated since usually a crypto winter lasts between a year, more or maybe less, at this point nothing is certain we can only speculate since it is not possible to accurately study the movements of the markets, only that it be at short term. This is not something that is being seen for the first time, this has already been presented on some occasions, it was presented in 2018 and 2008 (analysts believe that it was stronger)… The only thing we can do at the moment is wait because, as I already said, It is not something that is happening for the first time and if we have already come out on top on those occasions, this will not be the meaning.

I belive BTC is coming back very soon. Be patient guys

I am feeling that with global markets crashing bitcoin will also show the similar trends but somewhere down the line the path of markets and bitcoin will diverge and bitcoin will show greater rebound.

Thankyou for inputs

Many countries are in economic crisis now. Prices of commodities keep rising so for me it will continue until next year then bull cycle will begin again by 2024 where bitcoin halving will also happen. That is long enough to accumulate crypto to prepare for the next bull run. This is the perfect time where many people can be a millionaire on the next cycle if they start accumulating. I don't think we've hit the bottom price of this dip for bitcoin but stabilizing at the current price will be good as it's near at the ATH of 2017.

The crypto winter in the cryptocurrency market has been going on for the eighth month. Indeed, no one knows how long it will last. At the same time, one cannot conclude that it will last at least one year, because this was the case before. This market very often surprises us in terms of price. It is quite probable that already this autumn the price fall and stagnation may be replaced by the same sharp growth. Those who do not have the funds to buy now more potential cryptocurrency will be forced to expect price growth in this market.

Crypto market won't stabilize until the other markets stabilize along with it. This could take years due to the Ukrainian war combined with the post-COVID lockdown spending that never really stopped until the end of 2022.

I don't see this as a bad thing. Gives you an opportunity to purchase cheaper coins. Most coins, certainly Bitcoin, will survive the market correction. There isn't a reason why BTC wouldn't rebound once the global economy picks up again. Some of the shitcoins that are currently done for will remain done for, though.

Maybe, for now, bitcoin is falling, and we had seen it when the price dropped drastically in the last few days or weeks. That doesn't mean that the market will stay that way because the price of bitcoin is bound to bounce up and bounce back up again. At that time, people would not have thought that bitcoin could come back so quickly, especially for people who were late buying bitcoin at the lowest price a few days ago. But we don't know how long the market will be like this and can only hope it will all change soon.

Hard to say anything. According to analysts, crypto winters typically begin when the price of Bitcoin falls precipitously from an all-time high. And this could go on to 2-5 years. Binance CEO CZ said, “Crypto winter could last 4 years.”