Bitcoin started an abrupt declined in December 2017 and still hasn’t recovered. Analysts describe it as a Bear Market, that of a constant plunge in market value, further encouraging investors to sell their digital crypto assets. Almost a year and half later, the bitcoin bear market is far from over, though some stabilisation has occurred in this otherwise volatile market.
It has been a long winter for Bitcoin and crypto enthusiasts, with ups and downs in this perilous journey. The specialised media outlet, Hacker Noon, has kept a close look at how this bitcoin bear market has evolved over time in its Bitcoin Bear Market Diaries series, recording the overall mood of a challenging time for the digital coin.
Through a series of interviews with top-players, influencers, market experts, programmers and crypto leaders they have delivered some powerful insights into bitcoin’s longest winter. Here are some key moments found in its Diaries’ series.
Excerpts from Hacker Noon’s Bitcoin Bear Market Diaries
“The only way to understand Bitcoin is through HODLing (slang term for holding used among the bitcoin community). It’s like how the only way to really understand a smart phone is to switch it on and use it. Bitcoin is digital gold, which naturally invites the investor to hold it for the long term as a store of value.”– @TuurDemeester
“I’m really optimistic about the role BTCPay Server will play, not just in transforming e-commerce but in opening up new monetisation methods for content creators.” — @MattoshiN
“It’s just a form of saving. I know saving is not encouraged in American society — people are pressured to buy index funds instead, which I find unbelievably irresponsible — but that’s the consequence of a QE society where the dollar is debased and owning assets is the only way to tread water.” — @nic__carter
“The task of modern man, in the age of information, is to philosophically understand rights and ethics. We teach reason to machines and software relative to understanding what is right and just and the importance of these endeavors must not be understated.” — @BitcoinBlake
“Most forks are just useless attempts to earn a few bucks from people willing to pay for them. Forks are just another type of altcoin. BCH set the trend, but nowadays forks seem to be a thing of the past.” — @CarstenBKK
“Developers, layered protocols, privacy, sound money economics, and an adversarial “toxic” culture. This is the recipe for a software monetary revolution.” — @GabrielDVine
“I think each Bitcoin bull market will make it harder and harder to pick winners, and that people will eventually associate altcoining similarly to gambling.” — @BitcoinErrorLog
“Bitcoin’s greatest potential added value to society is as a censorship resistant free market price discovery tool that provides a check and balance against reckless expansion of credit by commercial and central banks.” — @DeaterBob
“Every “negative” event seems to bring more antifragility into Bitcoin. I love that survival strengthens Bitcoin each time.” — @jimmysong
“The same people today who think nothing of making a Skype call from an iPhone would have scoffed at the idea if it were put to them in 1990. This is also true of Bitcoin.” — @ Beautyon
“Just buy and hodl Bitcoin. Don’t follow anyone blindly. Be critical, think for yourself and participate in discussions!” — @hodlonaut
Hernaldo Turrillo is a freelance journalist working now for IntelligentHQ. Hernaldo was born in Spain and finally settled in London, United Kingdom, after a few years of personal growth. Hernaldo finished his Journalism bachelor degree in the University of Seville, Spain, and began working as reporter in the newspaper, Europa Sur, writing about Politics and Society. He also worked as community manager and marketing advisor in Los Barrios, Spain. Innovation, technology, politics and economy are his main interests, with special focus on new trends and ethical projects. He enjoys finding himself getting lost in words, explaining what he understands from the world and helping others. He was born journalist and became a thinker. Knowledge has no limits.