It’s fairly easy to be exuberant when everyone else is. That’s partly why the last crypto bull run achieved such heights.
But there are some influencers who made excellent bear market predictions, even amidst such market positivity, possibly showing their experience in the game.
Charlie Lee
creator Charlie Lee has made some pretty spot on calls over the past year or so.
Most notably perhaps was his (LTC) price warning tweet. Amid unbelievable price exuberance for LTC, Lee about a 90% price drop for LTC on December 11, 2017.
According to Coinmarketcap.com, on Dec. 11 was over $200 at times, en route to a rapid ultimate height of about $370.
Price currently sits at about , via real-time Blockmodo data, at the time of this writing. It would seem as though years of experience helped fuel this comment from Lee.
Ok, sorry to spoil the party, but I need to reign in the excitement a bit…
Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy! 
— Charlie Lee [LTC
] (@SatoshiLite)
Lee followed up with a earlier this year in June, referencing last December’s tweet.
I realize it sucks to have held a coin dropping 70%+. That's why I made the tweet about being able to withstand a 90% drop and multi-year bear market if you invest in crypto. I made that tweet before I sold. Most people aren't able to withstand this as we see clearly now.
— Charlie Lee [LTC] (@SatoshiLite)
Lee was pretty accurate on his LTC price drop warning. But what about the multi-year bear market also mentioned in the Tweet? That is left to be seen.
YouTuber Chris Dunn
Notable YouTuber Chris Dunn made a on how to prepare for the coming cryptocurrency bear market… in August of 2017.
Image Courtesy: YouTube
In his video, Dunn recounts price rise up to that point. He mentions aspects such as hype from news outlets and the public.
He goes over price action according to price charts, as well as makes several statements indicating that crypto will go through market cycles, just like other asset classes.
He gives far too much content to cover individually in this article. However, he does make a vital statement regarding the wrong mindset to have – “[l]et your feelings of euphoria silence the downside risk”.
Much of the public likely let their euphoria take over, thus driving prices to unbelievable highs. But gravity eventually took its toll on the charts, leaving many traders at a loss when things came crashing down.
In this video, Dunn shows an excellent example of a level head, utilizing history and logic to balance market sentiment.
Twitter Influencer Crypto Birb
@crypto_birb on Twiter has reportedly been in the crypto space since 2010. A knowledgeable trader, Birb has been calling for a dramatic further drop since May of this year, as per the of his chart.
remember my mid February scenario if H&S plays out
>symmetric triangle bearish vers.
> dip to 4.5k<=H&S range
>this would be the most healthy scenario for -full retracement
>hope it does not follow me
I dont feel like waiting for lambo
— CryptoBirb (@crypto_birb)
Although price action has been a bit lower than $4.5k recently, targets and chart analysis should often adjust according to time and ever-changing sentiment. Birb’s recent have indicated accuracy as well.
5.8k
5.2k
4.8k pending
4.6k
4.2k
3.9k
3.6k
— CryptoBirb (@crypto_birb)
All the above price levels have hit as of the time of this writing.
Going forward, there is significant speculation on when the crypto markets will recover. One interesting February on SeekingAlpha.com sports a title with an interesting observation – 2 Out Of 3 Crypto Crashes Like The Current One Ended Up Being A Multi-Year Bear Market.
Although who’s to say bitcoin will not hit $1 million by the year 2020, just as John McAfee predicted? Or even end of 2018 $15k BTC prediction? Only time will tell.
*CryptoInsider is sponsored by Blockmodo. As part of our arrangement, we may occasionally link to them and quote them when appropriate. This is done at the discretion of CI staff and CI sponsors have no say in any editorial decisions made by CI.
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