Who would have imagined back in 2018 that the next bear market will see $100 billion daily fluctuations for the total crypto market cap? If I remember correctly, at some point, 100 billion dollars was the total crypto valuation of all assets, Bitcoin included, and now we have that amount as being a quite negligible one.
After a couple of days of rallies across the board and after the market has liquidated quite a few long and short positions at the same time, it now rests at $1.975 trillions. Quite nice for a bear market, right, but are we really in a bear market?
Depends on who you ask... There are folks who still stay aside on that take, some of them on Hive as well, while others consider we don't have a peak yet for the bull market started back in 2020. I'm falling into the second category.
What better chart to put that into perspective other than HIVE's? Just look at that beauty and the higher highs and higher lows it has painted for good months now. Although $3 might look like a peak, it isn't imo and my little TA knowledge backs that statement "in paint".
We didn't had no higher highs and higher lows back in 2018 in what could be called a proper bear market year thus we can't call this one a bear market. I see something different right now. I believe the fun is just about to begin once again, as probably part of a supercycle ;) and HIVE is going to $10 this year.
Yeah, I don't believe $3 was any peak other than a local one and the way this chart looks like it feels like we're close to the accumulation zone and entering "the up only territory". I might be wrong, but that's what I see on HIVE's price performance.
The recent rally across the board was no bear trap imo, just the warmup for $100,000 BTC and $10 HIVE. What do you think?
Thanks for attention,
Adrian