Since bitcoin and the cryptocurrencies markets get into bearish trend since December 16, 2017 we have seeing alot of comments and post about people and traders asking were is the bottom and should we buy and hold? I think personally, the downward trend is over when bitcoin push above $10,250 and $10,850 this morning! The bullish trend has been trigger and bitcoin is going to break the December high of $19,000 and move above that level towards $25,000 before we can see another major bearish again. What did you think?
At the moment, the market is still on the downward trend and things are getting worse. Because traders expect strong growth but it is too long and the market has not changed. I think it is being manipulated and this is not a good time to trade. So keep on holding and wait.
I would say that the growing prices represent that market is growing and looks like that bearish market is over. The market charts have started rising for Bitcoin and the trend might be followed by other crypto currencies as well because whenever we have a rising trend in Bitcoin, it carry the whole market with itself because it actually hold a major portion of the market.
Good in our interest because those who are holding ETH and other coins along with Bitcoin will get extra benefits. So yes it looks like the bearish market is over.