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.
Black swan events are unexpected things that we cannot predict, so it will be difficult to confirm anything. But if we eliminate black swan events from our predictions, I can confidently say that bear season is over, and we are in the pre-bull phase. There won't be any more major dumping and the uptrend will remain the dominant trend until the halving occurs. If we keep speaking in general terms and always talk about black swans that can happen suddenly, no one will know anything. No one has a crystal ball to accurately predict the future.
For the benefit of some possible noobs that might be able to read up on whats a BLACK SWAN. So here's some brief explanation.
A black swan event, a phrase commonly used in the world of finance, is an extremely negative event or occurrence that is impossibly difficult to predict. In other words, black swan events are events that are unexpected and unknowable.Source:
https://corporatefinanceinstitute.com/resources/economics/black-swan-event/When it comes to this situation then this market is really that could possibly happen on point on which it do make out those market crashes or huge correction.
It isnt really something new and if you've been here on this market for a while or several years already then for sure you are already getting used to it
but sometimes it cant really be just that avoided for you to have those reactions even if you are already that experienced into this market.
You would really be having those common reactions that you would really be having along the way. This is why you shouldnt really be losing up your cool but instead if
Black swans do happen then you should really be that wise on how you would really be securing yourself to have some good buys.