It is fair to say, almost every trader is tired of the bear market experienced in the cryptosphere today. There were days when trading crypto was rosier, and the crypto Bull Run hyped.
That was 2017. The crypto boom back then was not only unique, but a phenomena the world is yet to experience again. It is perhaps the first time the word cryptocurrency became widely known. It is also the first time bitcoin became a household name for “normal” people.
The figures were colossal and growing. The euphoria was inconceivable. Everyone wanted a piece of the crypto pie. This led to millions jumping on the crypto bandwagon without prior knowledge of how cryptocurrency and the blockchain work. Yet, they pumped huge sums of money into the cryptosphere.
Speculation was rife and this fed the Bull Run. A huge number of participants lost chunks of money. We may never again experience a bull run of that magnitude. It’s also highly unlikely that the same mistakes will be repeated (although many fail to learn from their mistakes).
But this doesn’t mean we won’t experience another bull market. What is unknown, and what this Bitsane review is trying to get at, is whether crypto exchanges are ready for the next bull market or not.
Challenges experienced by crypto exchanges in 2017
Cryptocurrency exchanges experienced insanely high trading volumes during the crypto market boom of 2017. According to this Bitsane review, trading volumes would have been higher if it was not for the decision of the “big three” exchanges to temporarily halt new registrations. This was to allow them breathing space, an opportunity to improve their infrastructure, appoint more support agents, etc. It was done to be able to more effectively handle the huge influx of new participants.
Governments and regulatory authorities also placed pressure on crypto exchanges in certain parts of the world in 2017. It was for most part rumour based, but was definitely one of the challenges crypto exchanges had to mitigate. This was amidst an onslaught by scammers, black hat hackers and other bad agents that made the job of crypto exchanges so much more difficult.
Bitsane review: Are there more crypto exchanges today?
The number of cryptocurrencies is growing exponentially.The same could not be said of cryptocurrency exchanges some time ago, but today growth in the number of crypto exchanges can also be described as exponential. The markets are rapidly changing and so is the market situation for participants in the cryptosphere.
This has seen the appearance of multiple new cryptocurrency exchanges. The same goes for market prices and the popularity of cryptocurrencies (or digital assets). While these numbers keep growing, it becomes difficult to track and analyze all of them. This leads to costly mistakes as well as missed opportunities for both traders and other market participants.
Are crypto exchanges better prepared for the next Bull Run?
It is difficult for the average market participant to determine with pinpoint accuracy whether cryptocurrency exchanges are better prepared for the next Bull Run or not. Yet, it is believed that bitcoin bulls are ready to start the next Bull Run..
According to a Bitsane review, the mother of all cryptocurrencies, namely bitcoin, has experienced a dip in market value. It has seen a fall below $3,200 in mid-December (in what is now being referred to as the longest “crypto winter”).
Analysts speculate that things will reverse soon. That bitcoin will turn the tide on the bears and ensure a reversal of the downward trend experienced for most part of 2018. Bitcoin is likely to experience a surge in price moving forward, but only if buying pressure can persist and prevail.
Crypto exchanges are getting excited that we may be heading into a bull market in 2019, but that remains a subject for market analysis. There is no conclusive information that clearly indicates crypto exchanges are ready for the next bull market. There is speculation that the prices of cryptocurrencies will surge over the next few months. However, for now it remains just that: speculation.