It's fun to see how a comment gets a good flow of reactions
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
Just to explain my point, I believe we are somewhere between the despair phase and the return to mean.
A lot of people I talk to outside of this forum believe Bitcoin is done for or will not succeed.
Also we have had a few moments that we were at a good support and the bottom fell out again.
In my opinion it is safer to assume we are still in the despair phase (aka rock bottom).
I do not believe we are at "the" breakout point yet as stated by maker88. I do hope so but I think we will be seeing a bear trap in the first take-off.
As stated by Tera it is also a "smart money" phase since the price fluctuates in a relatively predictible pattern.
On a side note, I am a hodler with quite some coins to my name. I'm hodling for 10k to 100k bitcoins so I'm a long-term bull and a realist.