With the recent downward movement of Bitcoin and other cryptocurrencies, investors are divided; some think the bear market is here, following the cryptocurrency cycle, while others think it is just a trap and the market will rally again.
Where do you stand? Is the recent downtrend just a mere retracement? Or the beginning of the bear market?
In short term we are on bear market since the price failed to break the ATH on the recent attempt for the price to be established above 115K.
But in long term we are still on bull market since the price is still above 100K which is the higher than last year highest price. The current price downward is just a correction and it’s still too early to determine what will be the long term movement of Bitcoin price.
Every downward movement is an opportunity to enter on Bitcoin in cheaper price.