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Chinese Analysts Say Crypto Bear Market Likely to Continue In 2019

Chinese analysts expect the present bitcoin keep market to continue in 2019, contradicting the bullish projections of crypto bulls such as Mike Novogratz, who predicts that the bitcoin cost will hit record highs this season.

Because of this, the market responded by tumbling. Many inexperienced novices are victims of scam artists at the crypto ecosystem. Victims fuel the current market meltdown, according to Liang.

He does not feel that the crypto market will rally anytime soon because supply and demand are off-balance.

However, the bans have been ineffective, as bitcoin miners still function in the country. Regardless of the dire prognosis of some Chinese analysts, American crypto investors such as Circle CEO Jeremy Allaire insist that the bitcoin cost will rocket over the next 3 decades.

Regardless of its everyday price changes, Allaire underscored that bitcoin has a very significant role” to play as a rare, non-sovereign store of value. Based on Allaire, some cryptocurrencies will gradually die off because of competitive forces.

The market isn’t a zero-sum game. The achievement of one digital money does not mean the death of others.

Read More: Litecoin overtakes Steller Lumens

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Dennis Kin

Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.

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