Content Summary:
CEO and founder of MN Trading, Michaël van de Poppe, discussed the current state of the crypto market and the ongoing crypto winter. Altcoin investors are losing faith as the markets are stagnant. The bear market for altcoins has been ongoing for over two years, making it the longest in history. However, van de Poppe believes that the market won’t continue to decline and explained why in a Twitter post. Regulatory pressure and major collapses in 2022 have contributed to the current state of the market. Despite low sentiment and declining Bitcoin pairs, a change in trend could be on the horizon with the involvement of large institutions. The current bear market is worse than the previous two in terms of realized cap drawdowns. Volume and volatility in the crypto market remain low, with Bitcoin’s realized volatility approaching levels seen in stocks, bonds, and gold. The total market capitalization remains at $1.2 trillion, with Bitcoin and Ethereum trading flat or downtrending.
Key Points:
– Altcoin investors are losing faith in the stagnant crypto market.
– The bear market for altcoins has lasted for over two years, making it the longest in history.
– Regulatory pressure and major collapses in 2022 have contributed to the current state of the market.
– Despite low sentiment and declining Bitcoin pairs, a change in trend could be on the horizon with the involvement of large institutions.
– The current bear market is worse than the previous two in terms of realized cap drawdowns.
Crypto Market Outlook:
The total market capitalization remains at $1.2 trillion, with Bitcoin and Ethereum trading flat or downtrending. The market has been sideways since March, and altcoins have been stagnant for months despite ETH ETF applications.
Hot Take:
The crypto market is facing its longest bear market ever, with altcoin investors losing faith. However, there is potential for a change in trend with the involvement of large institutions. The market’s low sentiment and declining Bitcoin pairs are concerning, but the current bear market is worse than the previous two. Overall, the market remains stagnant, with low volume and volatility.
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