“Glorious spring” will follow the “winter” of bear market: John McAfee
The crypto market is still languishing under intense selling pressures, as evidenced by its performance on Wednesday. All major coins are currently declining, according to CoinMarketCap, anchored by an over 6% drop in the price of Bitcoin [BTC]. However, despite the bear market, crypto proponent John McAfee has urged the global crypto community to stay calm and prevail through the “winter” it is facing. “People have panicked. But there’s no fu**ing need,” he assured.
Every cloud has a silver lining
McAfee is not alone in attempting to reassure the crypto community as the continued slump in prices has left many wondering if they can expect a recovery any time soon.
“This bear market might last another 18+ months, until the next block reward halving. That’s a long time for everyone except true believers. Enough time to scare away all of the weak long positions,” said Bobby Lee, co-founder of BTCChina and BTCC.
According to McAfee, though the current state of the market is not very encouraging, people will just have to deal with it for now since it will not last forever. He attributed his confidence to his decades of experience and exposure to various markets and changing trends. He stressed that bear markets are always followed by a “glorious spring” and the community will just have to hold on till then. However, he did not specify when he expects the market to recover from its current levels.
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