It seems to me that people really need to learn how to be more patient with bitcoin, once again it is very close to the 60k level and it is likely that we are going to surpass that level during the next weeks and then reach a new all time high, a drop of 10 or even 15% could be enough for many other markets to become bearish but that is not true for bitcoin, we will need to see at least a 30% correction in order for the predictions of a bear market to become true.
30% correction isnt something that can be considered to be bearish but somehow if the price had stagnated with that level for a long time or moving sideways then we do consider that one
but if recovery would comes next after such decline then that would be just a typical movement in the market where everybody do loves to play along.Why searching or waiting up for
bearish season?It would be good if you do just simply ride on what we are currently experiencing at the moment.Bitcoin could possibly break out that resistance this time.
Too fast? We cant really tell but based off on observations then its truly remarkable.
That is why I wrote at least in my previous post, in my opinion that is the minimal reduction in the price that we will need to see in order to begin to entertain the thought of a bearish market making an appearance, as you say after such drop we will need to see the market moving sideways for a long time in order to finally declare that the bull market has finally died, this is why I do not get people, they want a market with high volatility that can make them big profits in a short amount of time but they get scared as soon as the price goes down a few points.