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 ?
Bitcoin has reached the highest stage in that year, until 2021 bitcoin is one of the most valuable cryptocurrencies, but in 2022 bitcoin is back in the correction phase, where until now the correction phase has not found a gradual recovery, then the possibility of bitcoin being at this stage is still continues, or it could be that a bear market is imminent.
This cycle will still be at the point of correction, even if there is a sustained recovery it will only be at a low price, but it is uncertain until what month of the year, considering the market has shifted slightly to a green stage.