In your opinion do you think the current downtrend is significant in the grand scheme of things, at least crypto wise, or do you think we're still well into a bullish trend?
Even a drop lower than this is not enough to say we are in the bearish market yet. Many are still anticipating a very high price that can give it a new all time high in a short time from now. I have not really foresee any change that will happen in the market to make it not attain a new heights in the market, it is likely going to record new big price soon.
I realise that we can't be in the green forever, so how do you know exactly when we are in the bear cycle, before it actually happens, that is if we are not already in it?
Some people have some statistics that if bitcoin falls below some certain percentage, it’s already in the bear cycle and we will see it fall further in the coming days than it shouldn’t have. Bitcoin market is very much unpredictable but when you see a bear market, you’ll know we are into it. There are some prices you don’t anticipate bitcoin to reach again when going on an uptrend, if it does fall back to their price, there is high possibility that the bear market is already in.