A bear market after a bull market is inevitable and that is just part of how the economic cycles work, and despite the innovation brought by bitcoin it cannot escape this reality as bitcoin is still traded by humans and we have the tendency to repeat the same kind of mistakes in all the markets, however I had no doubts that what we saw so far was not a bear market but a very heavy correction, and the recovery we have been experiencing tells me this is the case and we are yet to experience the real all time high of this cycle.
Shower thought, but what if the “heavy correction” of -50% happened from June to December, the same crash, but a longer time frame. That’s six months. Would you, and others, then start to consider that to be a bear market? Plus Google “bear market definition”. What’s the first result?
Yes, that to me would have been a bear market, a bear market is a long sustained negative trend, what we saw was just a heavy correction that was increased because many people were overleveraged and they got margin calls creating a domino effect, but after the correction the price just remained static and did not go down anymore, so it was a correction, while for some there is no difference in losing 50% of their money in a few days than to do so in a few months the subsequent behavior of the market will be very different depending on the circumstances in which the drop actually happened, which is why this fast recovery does not surprise me at all.