Is crypto winter setting in.. and how long will it last

[Flyingjack123]

 
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

[Bttzed03]

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

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

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.

[pooya87]

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.

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

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.

[tjtonmoy]

Bill Gates  has called  Crypto, NFTs as Based on ‘Greater-Fool’ Theory

This is what rich people do to brainwash us and keep us poor, so that they can be at the top. They have enough money that they don't need crypto support. But as the world is moving towards the future, crypto or some digital asset will be the main currency in that future. But as we know, old is gold. So any new currency will have hard time to get accepted by people. In which case, crypto will have the best chance to stand it's ground. So it is safe to say that there will be some bump on the road, but this isn't the reason to lose hope.

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

Hard to say. Could take years or more than that. But it will rise again and stabilize, that's for sure. So just buy the dip and forget about it for 2/3 years or so. Come back after that and i'm sure you'll find yourself in a good place.
[DYOR]
[NOTE: not your financial advisor]

[LogitechMouse]

Bill Gates  has called  Crypto, NFTs as Based on ‘Greater-Fool’ Theory

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.

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

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.

[avikz]

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

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.

[GreatArkansas]

(....)
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.

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.

[Mzsp13]

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

[Bitstar_coin]

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

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.

[coolcoinz]

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.

[Jawhead999]

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.

[mk4]

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

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.

[Lucius]

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.

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.

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.

[ethereumhunter]

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.

[dzungmobile]

Many crypto exchanges are laying off employees. Recentlycelsius recently has limited the withdrawal

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/

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.

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

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

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

[Minecache]

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

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.

[erick94]

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

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 Cryptovator]

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.

[Fortify]

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

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).

[Japinat]

(....)
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.

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.

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.