In the past month, the price of Bitcoin has remained stable, somewhere around $30K. Compared to the previous months, this is a giant leap. With the steady price pump, the whole cryptocurrency market has turned to the bull season direction. I believe that the traditional banks' collapsing was a great factor for large amount of fiat money to pour into the crypto market and thus it stimulated the price pump. If the market cools down and the Bitcoin price remains around $30K, will the bull season delay to come ? Let's say it won't be in 2024, maybe 2025 or later ? Please let me know your thoughts. By the way, I am with FireDAO team and please let me know if you are interested in new projects.
I think that the bull season will not be delayed because of the current stable price of Bitcoin. The market has already experienced a strong bull run and the current price is a result of the market's reaction to the influx of new investors, institutional money, and other factors. Even if the market cools down, the price of Bitcoin is likely to remain relatively stable, as it has in the past.