Crypto Spring Has Begun in the Face of Mass Skepticism
By Thomas J. Lee, May 15, 2019
The 2018 crypto bear market was more painful than any other prior crypto downturn because many of those hurt were retail investors new to the asset class. That 85% crushing decline not only wiped out investor capital, but sentimentwise left many of those newbies thinking Bitcoin and crypto broadly were declining into oblivion.
As bad as 2018 has been, 2019 has seen a surprising resurgence in crypto markets, both in price and dynamism, which naturally begs the question: Is the “Crypto winter” over?
I think the Crypto Spring has begun and four important factors inform my conclusion: improving fundamentals and sentiment. Price technical are positive, and the market appears to be reaching a supply/demand balance.
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