I am not even sure that what we are seeing now is even a bear market, to me it is just an important correction, something similar happened during 2017 and we know what happened at the end of the year, I think that we are seeing a similar pattern which means that the only thing people need to do in order to obtain decent profits is to keep holding their coins, and if they have some fiat available then they can use it to buy more coins for a cheap price and enjoy the benefits at the end of the year.
I actually do not think it is bear either. Yes we came down 50% from ATH but the support has been really strong since then and even yesterday is looking like a blip already. Sentiment is just shaken from the China news but everything will pick up and when people look around at alternatives,,, crypto is still the best of the options.
Defi, as much as I dislike it,,, will also probably pick up and gain strength for a bit more during the real rally.
This was just a natural correction, I will admit that it was big but when the price was reaching an ATH almost every week then this was going to eventually happen, we need to take the good and the bad and this was the result of that enormous growth that we experimented for a full year, now the price is not moving much which means we are in an accumulation period and as soon as the whales are happy with their holdings then we will see the market resuming its upwards trajectory.