The crypto bear market has been going on for a while and is not always cool to wait until the market will come back in the green. With the war in Ukraine that keeps going on for a year, the energy crisis, and high inflation in every corner of the world.
Now we have as well a war for a new world order with 3 major players. Those are US, China, and Russia. It is not cool, but I just hope we are not going to experience a nuclear war in my lifetime.
Today is a wonderful day for Bitcoin because it came in the territory of 30k! I know is not the ATH of this precious asset but it brings a precious mood into the air. Everyone dances under the sound of Bitcoin!
We are approximately 1 year from the next halving. A big event that will make Bitcoin even more scarce. It is becoming the true digital gold where you need to deploy an enormous amount of energy just to mine it.
The next halving might occur around April or May 2024. When this materializes, the amount of BTC will switch to 3.125 every 10 minutes. Normally, this will create a shockwave for the price action! Maybe it might reach the moon for real, we never know.
It is fun to speculate and dream to have our precious digital gold be more worthy. In the end, the vast majority of investors want to make money, nothing is wrong with that. It is the goal for an investor to invest in assets that appreciates within a certain time frame. Then cash out the reward for things that bring value to their lives.
I don't know if the current bear market is over and we are in the proper territory for a bull run. Many think is a bear trap but we cannot predict for sure what might happen.
It is not the first and not the last bear market we are going to experience. The price reflects the psychology of investors who want to HODL this hot asset for the long run. When a bear market occurs is simply a lot of money flows out from the crypto market.
Then it takes a while before the market recovers.
It is not the ATH of Bitcoin at 30K but it makes a good feeling inside for the people who have this precious asset under their belt. You check your wallet with a big spike in a short of time.
It is a temporary joy when the asset might go south again. Nothing is guaranteed when we are dealing with a hot asset like Bitcoin. At least we need to enjoy this minor victory in the present moment with the enjoyable spring weather.
I believe the current bear market is not over from my gut feeling. It is not good when an asset is increasing too fast, anyway. We might expect a retracement as well. Nothing is guaranteed.
Let's enjoy the price in the present time and forget everything that is out of our control. Your mind will sleep well tonight.
In the meantime, enjoy the 30k price target!!!
I am not a financial adviser and this is simply my opinion.
Have a wonderful day!
@Cryptosnowball
