As much as I love bitcoin and am 100% long term bullish in this space.
We have to put things into perspective.
Bitcoin has had an incredible 3 year bull run, and can still go further. However, the price currently sits under the 200 daily moving average. (The last time this happened was in the summer of 2014)
Should the price of bitcoin rise above the 200dma and maintain itself there, we could possible be gearing up for the next bull cycle.
Until then, we should stay alert and maintain a big picture perspective to see what the next cycle in the market is.
BEAR OR BULL?
Cheers!
