Quote from: BitcoinNewbie15 on June 08, 2018, 04:33:51 PM

We should see another stage of capitulation which should take us in the $4k - $5k range, but it hasn't happened yet for some reason. $5900 by late June does definitely seem possible, maybe even likely.

Quote from: harizen on June 08, 2018, 04:39:33 PM

Yes we are in bear market* but somehow it's not totally a 100% pure bear market because as you noticed, bitcoin bouncing back and rebounding somehow on the process.

That's because, like I said earlier, there is a undercurrent of the latest bull market, in 2017, which had not died, after all this capitulation. This bull channel is still alive and, in the case of a bear capitulation, it will cause a spike to a new ATH very fast.

Its like a tug of war between bulls and bears. A lot of hodlers had been born and tested in 2017, and all the weak hands had got out already. So, its a different situation from 2013-2015, which had a 100% bear domination.

When the price had not rise in May, I assumed we were in a multi-year bear market, but the bullish undercurrent is still alive, so 12-18k is still likely to happen in December, even with the multi-year bear market. Without it, we can reach 100k, specially if a trade war happens between the US and China, which will force a lot of institutional investors to hedge in bitcoin.