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?
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?
I believe we are still in an uptrend period because I see the current cycle is different from the previous cycle. There are several main factors that make the market this time have a unique pattern from the previous cycle. Now Institutional adoption is in full swing such as bitcoin and ETH spot ETFs have been approved, liquidity is getting stronger.
Then we also see bitcoin rising slower after the halving, bitcoin only rose 39%, much smaller than the previous cycle which was 119%. In addition, bitcoin's dominance this time is also very strong, now bitcoin is dominant alone, while altcoins are still struggling to catch up and there are still altcoins that have not reached a new ATH. It can be said that the cycle is more mature so I believe this year Bitcoin will continue to rise higher. This is just a personal opinion, you can do your own research.