Post
Topic
Board Speculation
Merits 2 from 2 users
Re: Buy the DIP, and HODL!
by
liuka
on 13/12/2023, 01:25:14 UTC
⭐ Merited by JayJuanGee (1) ,BABY SHOES (1)
I still think that whether we are in a bear market or a bull market might not be known until several months after we convert over from one to the other, so there is a bit of a lagging indication regarding where we might be, and people like to switch their tunes based on corrections or even temporary price runs, when the overall trend might be more difficult to really figure out until we are kind of far enough that we can say that "the top is in" or "the bottom is in."

And, with our current bottom of $15,479 in November 2022, it might have taken a bit of time to start to get confidence that "the bottom is in," and you can recall that we toyed with $28k to $32k for several times, before finally breaking through $32k in mid-October, but still at the same time, we might have already gotten confidence that "the bottom was in" by the time we had already started to spend quite a bit of time in the mid-to-upper $20ks and even the last time that we had BTC prices go below $20k was for a short correction in early March 2023.. so after that time the BTC price never really got below $24,500.. so we might have started to feel confidence that the $15,479 bottom of November 2022 was in, ven though we still got a dipping of the BTC price below $25k as late as mid-September 2023... so sometimes we cannot really be sure whether we are in a bear market or a bullmarket even though we start to have confidence that the bear market was over, which seems to be more clear to be attempting to describe those kind of uncertainties rather than flip flopping by saying that we are in a bull and then a bear and then a bull and then a bear .. all within less than a calendar year, and i have never really seen it to be convincing in bitcoin regarding when we might be able to call that a bull market or a bear market is in place... which largely just attempt to reflect on larger trends rather than re-describing where we are at based on smaller movements within the seemingly larger trends.  

I am also not very excited when folks say that bitcoin has been in a bull market since it started, and even though that is technically true, it tends to gloss over what seems to be a so far historical pattern of a couple years up, then a couple years down or sideways and then a couple years up and then repeat repeat repeat..  
That's right sir, we are in an uncertain situation between bearish and bullish because the movements that have occurred have changed so quickly if you look at it in the last two days. I agree with you it may take a few more months to see a real bull market. By looking at the price of bitcoin at the previous ATH of $69k of course at today's price we are still below the highest price which is good enough to buy bitcoin gradually.

I think some people have a different opinion because they refer to the bitcoin spot etf which is believed to be approved so they say we have entered the bullish season. Even though that's not true, I think the increase in volume really confirms that bullishness will actually occur next year. Happy to see prices continue to rise and also being able to hold on in this rising situation will be enough motivation to be able to hold longer.