🤔 Signals not good for the crypto of Hedera (HBAR)
HBAR, the crypto of the Hedera project, in 2024 seemed like it could be the year of the comeback, but recently it has been showing not good signs.
The first bull run of the crypto Hedera (#HBAR )
Having entered the crypto markets in 2019, Hedera’s native cryptocurrency went through the great bull run of 2021.
That has been, so far, the period of greatest splendor for this crypto on the markets.
Its price, to be honest, immediately after debuting on the exchanges, fell, but stopped above $0.01 during the bull of spring 2020.
As a reference point for analyzing the trend of its price, it is useful to consider the $0.03 at the end of 2020, when the last great bull run of Bitcoin had already started, but not yet that of HBAR.
At the beginning of 2021, in just two and a half months, it multiplied its value by more than ten times, reaching $0.36. It was a true boom during the first part of the first altseason of that year.
Although in July its price had more than halved, as it had returned to $0.15, it started to rise again during the second altseason, reaching an all-time high in mid-September above $0.57.
The bear-market
Until November 2021, it remained above $0.40, but when between December 2021 and January 2022 the bear-market began, its price started to plummet.
Already at the end of 2021, it had returned to $0.21, while in March 2022, it also fell below $0.2.
The biggest problem occurred with the implosion of the Terra/Luna crypto ecosystem in May 2022, when there was a collapse of practically all the altcoins.
The price of #Hedera ’s crypto at that point crashed below $0.10 within a month, then dropped further to below $0.04 in January 2023.
Note that, at that point, it had lost almost all the gains from the bull run.
In other words, the burst of the speculative bubble of 2021 almost brought the value of HBAR back to the pre-bubble level, which moreover was already lower than the initial debut price on the crypto markets.
This situation then persisted until October 2023.