That pump that began a few weeks ago, got the market a bit too offsides with speculative longs playing for the good-old days. But this is an enduring bear market,’ said Mike McGlone, the Bloomberg Intelligence analyst.
Mike Mark-Glon believes that the pump lasted several weeks, but the bear market has not gone away. Many companies working in this field are experiencing its influence: for example, manufacturer of graphics chips Nvidia reported on Friday about fall in demand from the miners. In addition, at the same time with the bitcoin price, Asian companies’ shares were falling.