Do you remember when the crypto market entered the bearish season?
I sure don't... I guess there wasn't supposed to be a catalyst for that to happen and even if it was one I don't remember about it. I do know that I refused to see it as a bear market till like the mid of it.
Funny to see also are the folks who were bullish all the way down getting bearish right near the bottom especially lately during the first decent recovery rally.
There are plenty of crypto gurus who still think and preach about a potential $10k BTC, fellows with hundreds of thousands of followers. I'm not in that position, however, what I noticed lately is that this bear market has marked the first time BTC went down to as low as under its previous cycle ATH($20k in this case).
Looking at the all-time chart of BTC I'm seeing such a nice fat ass W bottom now that we have this rally which pushed BTC something like 35% up from where it was ranging for some good months. How long will BTC hold the line? I have no clue...
Some analysts on Twitter say that this is just the beginning and there's still much room for price growth but I'm not throwing any predictions anymore. I do believe however that the bear market is over. $15,500 is the lowest the bears could get and even if BTC dips below $20k again it will be short-lived.
I had quite a similar post a few days ago tackling the Wall Street cheat sheet psychology of the markets and some of the people's reactions to it was like it's impossible that we could be out of the bear market yet.
So perfect...
When the majority expects for the rally to fail and the bears to get resurrected it always happens the opposite. I might be wrong and this might be just a suckers rally but I stand by my guess, the bear market is over. What do you think?
Thanks for your attention,
Adrian
