Almost six months after bitcoin’s price reached its all-time high and roughly ten months after its 2021 low of $28,500, people still argue about whether crypto is in a bull or bear market.
Some people say our most recent crypto bull market started in December 2020, with the first new all-time high since 2017—Now, you hear some people claim April 2021 was the peak of the cycle and all of the more recent higher-highs were part of a dead-cat bounce. After November’s all-time high, bitcoin’s price spent two months going down, then three months going up. Its price is still higher now than three months ago, something we’ve never seen in any previous bitcoin bear market.What about percentages? In September 2020, many altcoins dropped 50-80%. Likewise in January 2021. Both times, in the middle of a massive bull run.
Once you get into right and wrong, you miss the point. Too many people get psyched out with “bull” and “bear” markets. Take the market as it comes and make the best decisions you can. Bitcoin will decide who’s right or wrong.Maybe it’s ok to appreciate the larger trends and dynamics around you, without forcing labels onto them?