Hi guys I was wondering that Bitcoin crossed 37000 dollars is there any chances that Bitcoin bear market over and we might see good greeny day.
What are your thoughts 🤔💭
actually it doesn't work like that, because what determine the increment of bitcoin is the gravitation of the demands and the supply, when the supply is higher than the demands the price of bitcoin get increased but a process whereby the supply is higher than the demands, its obvious that price of bitcoin may absolutely drop unexpectedly, so bitcoin price reaching thirty thousand to thirty seven thousand [30k-37k] does not mean that it has escape bearish season, the price can fall at any point in time due to the level or the status of the demands in the market
And after a month from the OP's thread, we have seen the price almost crossed $45k. With that, and within two weeks before the end of the year, we might say that we are in the tail end of the bear market.
Prices since the lowest low last year of $15,500 has more than doubled already. So it's a indication that the bullish sentiments will go till the end of the year.
Unless there will a black swan event, but from the looks of it, I guess we are over with negative news.