Three things stuck in my mind this week:
1. It might take a few more months before BTC's price finally exits the bear market. That is if we have a similar situation to the 2018 bear market where fear and greed levels plateaued for a whole year.
2. BTC's price free-fall will slow down between $24K and $27K unless more macroeconomic and geopolitical risks emerge.
3. Short-term holders are responsible for most of the capitulation (day trading and scalping don't fall in this category, right?).
But one thing has a high certainty---the bear market is temporary.
The bull is not a matter of if but when.
1. No one knows on what would happen next.Comparing it on 2018? A sort of but that one is more red. 1. It might take a few more months before BTC's price finally exits the bear market. That is if we have a similar situation to the 2018 bear market where fear and greed levels plateaued for a whole year.
2. BTC's price free-fall will slow down between $24K and $27K unless more macroeconomic and geopolitical risks emerge.
3. Short-term holders are responsible for most of the capitulation (day trading and scalping don't fall in this category, right?).
But one thing has a high certainty---the bear market is temporary.
The bull is not a matter of if but when.
2. Im already eyeing into those levels you do mentioned and lastly, i dont believe about economic conditions which will affect crypto market majorly.
3. Scalpers doesnt really care about these market trend or conditions so they are exempted but we know that majority isnt really having that kind of trading.
Market do only have 2 possible movement or path either bears or bull.
But I think you will agree to me that we are now in the bear cycle?
Because we have seen how the price went on a downward spiral and this is similar to 2018 meltdown or bear market. So I don't see a path of the bulls this year and most likely it will still get worst before the end of the year. If we don't look at bitcoin's past history in 2018 to understand, then we might be in for a rude surprised this 2022. So somewhat, we need to be ready in case it goes down into the $20k'ish region.