Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Altcoin Discussion
Re: How do you feel about market recovery
by
KingsDen
on 17/01/2023, 12:09:53 UTC
Quote from: Silberman on January 16, 2023, 07:03:29 PM
Quote from: KingsDen on January 16, 2023, 03:21:01 PM
Quote from: RAppleby on January 16, 2023, 06:15:36 AM
...

There are good signs of recovery in the market. This recovery is not a sign of bull run but it is to keep the hope alive that there can stillbe bull run.
This recovery will stablize the market and avoid further panic and FUD.
This recovery has also saved some projects that were very close to winding up. This is because the bear market has lasted for so long and many projects have suffered for so long.
On a long run, throughout this year, we shouldn't expect bull run or expect the market to exceed $30 till 2024.
Without a doubt this recovery is giving a breath of fresh air to a lot of coins that were on the verge of collapsing as the developers depend on their coins having a high value to have enough funds for the development of their project, however at the same time I expect scammers to release more coins than ever as they are going to see this correction as the opportunity they were waiting for to scam people, since this small correction could encourage people to invest in shitcoins once again.

You stated it well. One of the cons of this correction is the emergence of some scam coins. As we all know that the bear market period is a period of cleansing of the market whereby the projects that are scammy and doesn't have based will have to die off.

The cleansing has lasted for long and some few scam projects which didn't die off completely have been watered this correction and also project owners who have been working on projects may see this correction as the right period to join the market.