Every time the prices of cryptocurrencies stagnate, people are always going to feel like its not going up forever. No wonder the prices dips further more and then panics for the rest of the holders.
I can say things have changed since the 2018 bear market. Even in 2021 the market is not so alive but there are still altcoins that reaches its heights. This 2024 only BTC and a handful of altcoins are rising. Its like everyone is only interested in BTC.
Yes, once the prices of Bitcoin start dropping, therr are many newbies that are ready to even sell their Bitcoin at losses because of fear of loosing all their assets. Going through the bitcoin market memory lane, i will like to give you a flash back of the worst bear run in history of cryptocurrency that occurred in 2018.
As a matter of facts, there were many negative stories about the Bitcoin market prices in the past that has caused unnecessary sentiments amoung many traders/investors. In 2018, we experienced the worst bear run which lasted for about one year. During this horrible bear market, many people concluded that Bitcoin could crash to zero, and this impression were created all over the news and social networks, even critics, haters of Bitcoin took advantage of the situation by spreading numerous forcehood about Bitcoin crashing to zero. At some points, even at the heat of the dwindling prices during the bear run, which was like a meltdown, critics/haters caused many traders/investors to sell off their Bitcoin at the biggest loss.
In a nutshell, this past records are still in the memory of many people, especially traders, which has brought sentiments into the crypto market into this current market situations.