Cryptocurrency Language: “Crypto Winter” Is Wrong And Misleads – Forbes

Crypto winter, cryptocurrency
The words used to describe an investment or group of investments ought to be accurate or at least bordering on the accurate. The used car salesperson approach of talking about the banged-up Chevy as a fine example of exceptional road wear is a problem for the potential buyer: ultimately, it misleads.
“Crypto winter” leaves the impression that the next season, “crypto spring” is right around the corner and surely followed by “crypto summer.” The used car salesperson approach is applied to the investment world and here we are with issues of trust now plaguing the cryptocurrency world (SBF, etc.).
Take a look at the weekly price chart for bitcoin ($BTCUSD):
Bitcoin weekly price chart, 12 10 22.
Studying the chart, it’s obvious that the price peaked in November, 2021 up there just above $67,500 and the current price in mid-December, 2022 is $17,166. Bitcoin BTC has been declining for 13 months with just a few minor ups and downs along the way. So, we are way past anything that could be described in seasonal terms – such as “winter.”
A better way to describe this kind of action might be “bearish” or maybe “continuous long-term sell-off.” Using a term for this remarkable drop that typically describes a season of just 3-months duration is inaccurate, misleading and pretty funny unless you were a buyer up there above 67,000.
Here’s how the Ethereum ETH weekly chart looks:
Ethereum weekly price chart, 12 10 22.
This is another that finds the “crypto winter” description often attached to it by those who would like new investors to jump in. The drop from the November top of 4750 is now at 13 months, a long time to be using a seasonal term to describe it.
Take a look at the declining 50-week moving average – it’s headed for a crossover of the 200-week moving average unless the price stops heading lower and lower.
Here’s the weekly chart for XRP XRP aka “Ripple:”
XRP weekly price chart, 12 10 22.
The top came in April, 2021 up just above $1.90 and the cryptocurrency now trades at $.39. That’s a 79% drop in value from the peak to the present. From April, 2021 to December, 2022 is 20 months and so this one has gone way beyond the seasonal 3-months of “winter.”
On this chart, Ripple’s 50-week moving average is close to crossing over the 200-week moving average which looks as if it’s about to begin down trending.
Many price charts for other cryptocurrencies display similar characteristics as do the price charts for notable “crypto exchanges” that trade publicly. Those who want to continue to refer to this kind of action as “crypto winter” may do so, of course, but it’s starting to sound ridiculous.
Not investment advice. For educational purposes only.

source