Bitcoin has broken the all time high of 2017 and now it is around 19,000$. The worst part is that even on these level, we are not seeing any pumps and look like price may fall all the way to 10,000$ or even lower.
Once bitcoin was at 69,000$, who would have thought that bitcoin will go so low so fast ? Now what do think, where we are in terms of bitcoin cycle. I think we are already in th bear market since summer of last year and maybe the bottom/ end of bear market is near ?
For now bitcoin is in a 4 year cycle, where we can see the journey of bitcoin experiencing a decline in price, this cycle is almost the same as in 2017 where bitcoin began to strengthen until the achievement of new ATH until 2021.
But after the achievement of ATH, bitcoin is back in the correction cycle as it is now, in 2022 bitcoin is back at the stage of an endless correction, meaning that the correction has not been in the recovery stage until now, now we are in a bear market that is not sure when it will end, but I believe this will end until the stage of complete recovery