Quote from: bakasabo on December 14, 2021, 09:45:00 AM

Quote from: Falconer on December 14, 2021, 09:34:22 AM

Quote from: StreakW on December 14, 2021, 09:17:00 AM

I think the crypto market is currently entering a bearish phase where the prices of bitcoin and altcoins have experienced significant price declines over the last few weeks. However, even though the crypto market is bearish, this condition will not last long and the bitcoin market will be bullish again early next year.

I would not say that a bear market has come even though it is week 5 the bitcoin price has corrected from ATH $69K to a price of $47K. We can still expect a similar bullish pattern on the bitcoin price before it reach the end of the year, but we are so close to the end of the year that we only have 16 days left from now.

It is true that there is little doubt about the next bullish move in the near term, but no one knows what will happen in the rest of December even though the bitcoin price is currently undergoing a correction. At least $40K support can still be expected to hold during this panic, so we can still hope for further recovery.

If this is not a bear market, then what it is then? Correction during 5 weeks? I wish to believe in this, but it is hard to do it. As soon as the Bitcoin price recovers a bit during a day, after lunch it starts to drop down again. Bears are pushing it down and encourage people to sell, especially before Christmas and New Year. I believe that we have fully entered a bearish trend, completely skipping altseason in 2021. I think we are repeating Spring 2018 cryptocurrency steps right now.

I don't think the bull market will be over soon because the cryptocurrency market have a strong momentum up to now. If you look at the cryptocurrency market capitalization via Coingecko or Coinmarketcap you may notice the entire market capitalization is above two trillion dollars that show how strong the market is and perhaps in the future we might see a huge uptrend that may skyrocket the market capitalization up to three trillion dollars or more.