The ongoing bearish sentiment has wiped away around $2 trillion as the cryptocurrency industry’s market cap fell from a peak of nearly $3 trillion in November 2021 to the current value of $923 billion. Some analysts and experts believe that the bear market bottom is almost in.
There is still a long way to go before positive sentiment completely engulfs the cryptocurrency market. However, this bear market has had its crypto gems.
Ethereum (ETH) has performed very well and even surged due to the much anticipated Ethereum Merge. Algorand has fallen sharply, and its reversal could be violent and profitable for traders.
Flasko, a new cryptocurrency project, could be the true gem of this bear market as it breaks new ground with its innovative offering.
Bear Markets are Great for Contrarian Investors
Bear markets are notorious for wiping out investors’ money. However, some investors and traders believe that future millionaires and billionaires are minted in bear markets and realized in bull markets.
This simply means that bear markets offer great buying opportunities for retail and institutional investors.
The worst time of the market is the best time of the market. Nathan Rothschild is credited for uttering the statement, “the time to buy is when there’s blood in the streets.”
The current crypto winter is not any different. Major cryptocurrencies are oversold, and they will regain their value in the next bull market. A good example is Ethereum.
Ethereum (ETH) and the 2022 Bear Market
The current bear market did not spare any cryptocurrency. Ethereum (ETH) fell from a high of nearly $5,000 to a low of $991 in June.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, gained momentum in the run-up to the Ethereum Merge in September. The Ethereum Merge is a hard fork upgrade in which Ethereum transitioned from a proof-of-work to a proof-of-stake blockchain.
ETH’s price reached a high of nearly $2,000 before retracing to its current value of $1,300. The move showed that narratives, big news, and developments could move the price needle even in the middle of a bear market.
This also showed that Ethereum (ETH) has what it takes to keep going strong. The cryptocurrency is not done yet, as there are more upgrades lined up in the future.
With ETH’s price now above June lows, traders believe Ethereum (ETH) may run higher when the market turns bullish. This bear market has also presented all kinds of traders with the opportunity to buy ETH at a good price for long-term holding.
Algorand (ALGO) and Its Potential
Algorand (ALGO) is a decentralized blockchain network that allows developers to build and deploy decentralized applications (DApps).
Algorand’s native token, ALGO, is 90% down from its peak price. This bear market is another good chance for investors to buy and hold ALGO.
This is a Good Time to Buy Flasko (FLSK)
There is no time like the bear market. Weak projects will die a natural death, while promising projects will stay afloat.
Flasko is a promising project created during this bear market. Flasko is creating the first alternative investment platform tailored for cryptocurrency investors. It is bringing together NFTs and luxury wines, whiskey, and champagnes under one roof.
It has huge potential and what makes it special is that it is the gem that many investors have been waiting for. The bear market has done its worst, and the market may not go much lower from this point. On top of this, Flasko is well positioned for huge growth in the future.
Instead, Flasko is likely to rise in value as its demand increases. This is the perfect time for clever investors to buy the Flasko token early during the presale. Those who want to succeed in the next bull may need to start loading their crypto portfolios with the Flasko token.
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