He noted how bitcoin has corrected 15% from its ATH already and if this continues we might see bitcoin start the bear market starting from next year. He also noted how this cycle can't be judged the same way as previous ones because of involvement of ETFs and other major investors.
Yes, but do you think this is bearish or bullish? Because I think it's quite bullish. If this were the case, the price should moon, because those institutional players are buying in large quantities to HODL.
The institutional players, and other entities that are buying bitcoin in large quantities is the reason why we haven't seen the price of bitcoin dip below $109k+ recently. The way that they're buying aggressively is the same way some hodlers are also selling aggressively using this opportunity to take profits. However, I believe that in Uptober bitcoin price will pump above $120k because after Fed meets on the 16-17th of this month, that will decide if rates will be cut immediately or not.
I don't know when the bear market will come but I believe it will happen in the future and once it happens bitcoin will be dumped and easily drop to 50k$-40k$.
Nobody says that the bear market wouldn't come. My concern is which catalyst or news will trigger the bear market because I know that companies stacking bitcoin currently, wouldn't panic and sell.