I see some people are talking about bears and bulls? What the heck does this have to do with bitcoin anyhow? I'm a total newb by the way....
In stocks there are "bear markets" and "bull markets."
For an over simplified description:
Bears are pessimists
Bulls are optimists
Bears believe the price is going down
Bulls believe the price is going up
Why anyone who is involved with BTC enjoys being a "bear" is beyond my understanding. Sure, bear markets are a part of the cycle but I would think logically being a long term "bull" makes more sense.
Because it is the way you make money in a overall bear market like this one for 16 months?
Follow the trend and make money. Don't fight against it.