Hex founder believes bitcoin bear market will last another 8-9 months

The founder of Cryptocurrency Hex shared his thoughts on the future of bitcoin, saying that in his opinion, bitcoin is in the bear market that could take another eight or nine months.

Hex cryptocurrency is a token launched by Richard Hart on the ethereum network in 2019. The proof of the pending cryptocurrency caught the attention of many crypto investors and aimed to provide a “certificate of deposit” on the blockchain.

Heart commented on the current kriptorynka situation by comparing analysis of asset prices in 2017 and 2021 with the best indicators, predicted Sunday’s immediate future, Business Insider reports:

“I think it’s in the crypto bear market… I think we’re falling into a bull trap right now. These systems are reflective, have no basic demand, 90% speculation. The last bear market lasted 364 days-I wouldn’t be surprised if we saw another 8-or 9-month month.” 

Heartfelt comments suggested crypto assets would have a difficult time in the coming months, while others suggested the Sunday was much more bullish than it seemed. 

As the Defi ecosystem grows rapidly, few will dismiss the general optimism about this crypto ecosystem.  In fact, the fact that Defi’s corporate support is not waning, as many experts suggest, means that Defi’s presence will continue to grow and, in turn, provide support for other cryptocurrencies in space.

With the support of giants such as PayPal, Square, Twitter and various financial services platforms offering crypto services, the growing demand for cryptocurrencies is clear. Even Wall Street financial institutions are taking strategic positions and adding cryptocurrency offerings alongside more traditional portfolios.  

In short, the market is a reflection of the highly volatile nature of cryptography, and although bitcoin peaked at the beginning of 2021, it was quite natural for cryptogeld to learn to fall.

Join the Discussion

  • BrokerEUR/USD
    SpreadEX 0.6pips (variable) margin: 3.33%
  • Back to top