People who were here during the last bear market, how is this time different?

I was not on this sub during the 2018 bear market but have read comments on the sub about how bad it got. Comments about how the suicide hotline was pinned to the front page and the general belief by many was that crypto was never going to go back up, they had lost tons of money and the best decision was to sell at a loss.

I’m not seeing that this time around, everybody seems pretty sure about the bitcoin cycle and how prices will eventually hit all time highs again. Most if not all people here seem to believe that even though we are 70% down, the prices will rise and that now is a good time to buy. Sure some believe that we can still go lower before we shoot back up, but the general consensus here is bitcoin and crypto in general are here to stay and will continue to grow.

Is this bear market that much different than the last one?

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30 thoughts on “People who were here during the last bear market, how is this time different?”

  1. Back then BTC went up something like 10000% in a month and down 95% the next week (being *slightly* hyperbolic here).

    There was a massive leveraging on the way up, people remortgaging their house for BTC and typical stuff like that, that lead to a *massive* bloodbath on the way down. This place was a mess. The suicide hotline was posted out of necessity, not as a meme. I haven’t seen it like that since, only briefly in the Luna sub after their crash.

    In contrast, BTC went up like 300% this time in many months, then fell 75% over many months, then went back up actually to a new ATH, then back down gradually over many months. There wasn’t ever a phase of mania where people were expecting 100x or 1000x imminently, people were calling for 100K when it was at 70K instead of calling for 1M at $3000.

    I’d say the markets are a lot more mature this time around. The same crash cycle happened in altcoin markets but with the pretense this is going to $0 very soon, get out, nobody believes that about BTC so nobody had an exit strategy in place expecting a 90% crash overnight on the day it happened.

    This also leaves a lot of people with high uncertainty. The price always goes -90% *right after* a bull market and it hasn’t happened yet, sort of implying we could wake up very soon to learn this downtrend was still all part of the bull. But on the flipside the price never went parabolic to justify such a large crash. So who knows. This time it’s *really* different.

    The bull markets are easier to predict/navigate imo.

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  2. I didn’t own any crypto at that time, but my brother in law did. He had bought BTC super cheap. In the 2018 Bear Market, he was telling me how his $10k portfolio was up to $300k, then it crashed to $30,000. He was pretty upset he hadn’t sold, but he just Held.

    His portfolio during the last Bull Run was up close to a Million, and he still never sold…..

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  3. I wasn’t in this sub back then but I remember losing all hope in crypto as I lost most of my portfolio in the crash of 2018. This time I learned my lesson, am hanging on but I couldn’t care less what the sentiment is, I am staying the course. Steady buying, steady stacking

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  4. Well this one seemed to have been triggered by an ongoing global pandemic, highest inflation in 40yrs, potential for WWIII and a looming recession. This one is vastly different and no one has any idea if we will be in a bear market for years to come, or we jump back bullish.

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  5. I’m not afraid this time.

    Last time I didn’t buy BTC at $4000, or ETH for $150. I thought the little bit I bought and held was gone. I didn’t even bother to sell what I had because it wasn’t worth the effort. I just deleted the CB app and walked away…. until the end of 2020.

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  6. It still feels far more hopeful than late 2018-early 2019. Crypto is bigger and more mature now so that’s different. However, the macro economic situation now is much different compared to then with supply chain issues, global conflicts, and greatly increasing inflation.

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  7. It doesn’t feel different. It doesn’t look different on the charts either. I like going back to previous bear markets to see what people said. They always had an excuse as to why it’s different this time and it won’t recover.

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  8. I kept buying ETH. As long as you believe in the project, its fundamentals, product & adoption, it’s basically a no-brainer to continue investing what you can. Bring down your DCA and ready for the bullmarket, whenever that may start!

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  9. It honestly feels milder, less tragic. This is probarly due to the fact that crypto is way more mainstream now then it was back then. The chances for it to recover now is dramatically higher then it were back then. Ofc there is the occasional NFT story, but well yeah.

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  10. Survivor of the previous bear market here.

    I feel that the bear market is still not in full force yet. I remember the bottom was really crazy as BTC Price fluctuates by few hundreds USD per second. The order book that day seemed like a slot machine haha.

    Even at this price, I am still up a few hundred percent. Holding quality coins might be a good idea.
    Bull market is where you get rich, buying during bear market is where you build generational wealth.

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  11. The panic drop to $17k, when the sub went into goblin town mode, was nearly identical to 2018.

    The amount of people who panicked, began to question crypto, lost faith in even their favorite coin. The amount of lambo and moon talked that vanished, and got replaced by FUD and anti crypto talk.

    It was all too familiar.

    When we dropped below $4k, the dominant debate was whether we would drop to $2k or $200.

    This time, when we dropped to $20k, the dominant debate was whether we would drop to $15k or $10k.

    And just like in 2018, there were still a few hopium comments but were very quickly dismissed. And hopium posts were often half joking.

    We even got the suicide hotline posted a lot more this time it seems. And for the first time, it was even posted for multiple countries.

    One small difference, this time around we got brigaded pretty hard by r/buttcoin and a couple of other subs. They took over a lot of the comments.

    And just like in 2018, as soon as the market started a small recovery, people here quickly turned bullish again. They were like “this wasn’t so bad”, when a few weeks before they were shitting themselves in panic.

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  12. Very similar…

    Huge drops with fake out run ups…..leading to bigger drops..

    There are more Cryptos, and more accessible..

    Seems like more hacking too..

    Defi wasn’t around.

    Pretty much what the 4yr cycle predicts a 70-80% drop.

    The end/bottom is only a few months away…. Then the slow climb back up.

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  13. It seems like there are a lot more sad cheerleaders this time. Losing investors are sensing the gravity of their mistake buying bitcoin at $40,000 to $65,000 and they are realizing there won’t be another surge to save them. It’s very much like those of us who bought silver coins when spot price was over thirty bucks an ounce…we are just going to be livng with that mistake for years.

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  14. It was different cause there were no big players involved giving it some kind of legitimacy

    I thought crypto as a whole could just die and buying at $4k made think why am I throwing away my savings on magic internet money

    I think we are pass that step as we have insti players, countries and politics involved. Some regulation is already in force and some will come into force within the next couple of years

    Bottom line, most of us know that crypto isn’t going away so instead of panicking we see people DCAing these drops

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  15. Did you come here to hear what you want to hear, or did you come here asking for the truth?
    Until Tether plays out, sweet child, we have seen nothing yet.

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  16. It’s not same old same old. Weak projects failing, Bitcoin maximalists, Fud, alot of I told you so. The only difference is this time I’m buying

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  17. this time the stock market and economy are also struggling and the QE and ZIRP experiments have ended, so I expect a much larger overall drawdown. To match last drawdown, we’d need BTC at $10k. This time, $2-5k BTC bottom is likely (100-300 ETH), $0 for 99% of the others. I also expect it to take much longer. Probably bottom in late 2023 to mid 2024.

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  18. Its not much different. Industry is more mature this time around. So take the opportunity the market has given to you and dca!

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  19. ALTs still got a lot of bleeding still to do, More exchanges need to disappear and some more shitcoins need to go to 0 and It’ll be the same as last time, we’re not quite there yet.

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  20. I am in from 2020 with 50% of my savings, I’ve seen the ATHs and the lows, but I’m staying for the long haul.

    My only regret is not taking 50% of the profits at the ATHs, I would’ve been x8 up, but I’ve learned.

    Here’s hoping the next two years will get better.

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