Over the past couple of weeks, the crypto market has experienced a massive downtrend. Most of the big cryptocurrencies Bitcoin, Ethereum lost about 40% of their market value in the past weeks.
Basically, the crypto market is driven by speculations from investors which always distorts the crypto market. For example, the Terra LUNA crash caused crypto investors to panic and many started selling off other cryptocoins, eventually crashing the crypto market.
Even though the crypto market fluctuates and some coins still retain their value and position in the market after a bearish trend, some cryptocurrencies may not be able to sustain this bear trend.
This article will address the top 10 cryptocurrencies that may not survive a bearish shock in the crypto market.
What Is A Bear Market?
A bear market is a term used to refer to the downward or negative trend in the prices of the market. This type of market is not only common in the cryptocurrency space, the traditional markets such as stock market, bonds, real estate, forex, indices and commodities all have a bear market.
Generally, the best market occurs when there is a strong market downtrend which also shows a significant fall in prices over a relatively short period.
Cryptocurrency markets are smaller than the traditional markets, hence, more volatile.
Therefore, it is not unusual to see stronger and extended crypto bear markets where 85% price drops are quite common.
Some argue that a bear market is indicated when there’s a 20% drop in price within 60 days. This is likely caused by the speculation of investors over the poor performance of market prices and indexes, they act on it by selling their holdings, hence, the falling prices and capitulation periods.
Shiba Inu Coin
Top 10 Cryptocurrency That May Not Sustain The Bear Market
1. Shiba Inu:
Shiba Inu is a cryptocurrency developed by an individual named “Splux” with a supply of almost 100 billion, considering its high circulation.
Splux doesn’t seem to be interested in further advertisement and development of this coin because there are no types or new developments concerning Shiba Inu on social media channels.
However, many posts on social media have alleged that the developers have defrauded many people of their money.
For these reasons, the Shiba Inu might not sustain the massive bear market we are witnessing.
2. Cardano:
Cardano is a popular cryptocurrency in the crypto market but will likely go down with the bear trend should it persist. Cardano has been struggling with its support level with other currencies in the crypto market.
The Cardano coin lost about 15% of its price against bitcoin in Q1 and Q2 of 2017.
Although Cardano’s market cap decreased to about $1.6million in early 2018, there has been a significant increase since then. This has placed it on the map as one of the most valuable cryptocurrencies today.
Given the steady fluctuations in the price of this crypto coin, it may not survive the massive bear trend in the market.
3. Avalanche:
Avalanche(AVAX) is the 13th largest cryptocurrency, created in December 2017, with a whopping $7.6 billion. This cryptocoin is a native token of the smart contracts platform led by Emin Gün Sirer.
Since its invention, it’s been gaining popularity but is not as valuable as other coins that have been in existence for a longer time.
Avalanche is currently trading at $15.18 which puts the token about 90% down from its all-time high of $146.22 in November 2021. This scenario may present Avalanche as a coin that may not survive a further bear market.
4. Uniswap:
Uniswap is a decentralized cryptocurrency exchange that was created in 2018 by the same developers as Kyber Network.
Uniswap permits traders to trade cryptocurrency with no fees, ranking number 141 on CoinMarketCap’s list of cryptocurrencies.
Uniswap aims to achieve automated token trading and is completely open to token holders while improving the efficiency of trading on the blockchain against traditional exchanges.
5. Terra:
I can bet that the Terra Luna crash is still fresh in our memory.
When we talk of the reason why the cryptocurrency market turns bearish, Terra is one of the cryptocurrencies that causes the bearish trend. Terra LUNA peaked its all-time high at $118 in April to going completely zero in May 2022.
6. TerraUSD:
TerraUSD(UST) collapsed at the same time asTerra LUNA which is the Terra blockchain’s native currency, also dropped nearly 97% in 24hours.
Although volatility is a normal thing in the crypto market, the collapse of the stablecoin TerraUSD(UST) is still a shock to everyone.
7. Apecoin:
Apecoin is one of the famous cryptocoins in the market, launched by Yuga Labs, the same developers behind the Bored Ape Yacht Club.
Apecoin which had a market cap of about $1.4 billion as of May 2019 but $1.1 billion today may not survive a massive bear trend in the market.
In May 2018, Apecoin had an all-time high at $2.44, a food increase from its price of about $0.38 in December 2017.
However, there has been a significant drop in its price since then to about $0. 20 on May 8th 2019, though the current price today is about $3.28. With the fluctuation in the price of Apecoin, it may not survive the massive bear market.
8. Cosmos:
Cosmos had been in existence since 2014 and there’s little hope that this cryptocurrency will still be relevant in 2022.
It has an all-time high of $3.54 which was reached in January 2019 which was a good leap from its value of $0.5 in December 2017 when it started trading.
The price of Cosmos has fallen significantly since its all-time high, as well as its trading volume.
Cosmos may as well not survive this massive bear market with this record.
9. Elrond:
Elrond was created in July 2018 and has its own problems in its short history in the market. It fell from a value of $1.22 to $0.37 on January 8th 2019. It recovered slightly and dropped again to $0.42.
Elrond doesn’t seem to have that market cap and valuation to survive the current massive bear market.
10. Zcash:
Zcash is a profitable cryptocurrency to invest in because its purpose was to secure transactions which is the main aim of many people in the market.
Zcash was created in 2016 by some developers at Johns Hopkins University and has had its challenges since its creation.
In May 2018, it had an all-time high of $3.27 but it experienced a rapid decline in its price afterwards. It made the list of top 100 cryptocurrencies by market capitalization and has a market value of about $1.5 billion.
Conclusion
The crypto market is highly unpredictable, hence, it has become a norm for investors to speculate and withdraw their portfolios from cryptocurrencies that have a very low tendency of surviving any market shock. The list above provided some cryptocurrencies that may likely not survive this massive bear market trend.
Note: The information provided in this article is solely the author’s opinion and not financial advice.
