Nighty Night, Mr. Bear, it's time for you to hibernate. And Mr. Bull, it's time to wake up and run really fast!
With a red hue on the bear side and a green hue on the bull side, it would be perfect. Although, bull+red makes sense too.
I like her new magic wand(s) (with the crystals). Very Myst-like (if you know, you know).
That's funny. When I made it, I was actually considering changing the colors of the things exactly as you say. But I was just messing around and I had just been messing around the whole time.
"We" cannot take you seriously if you are reversing the colors on "us."
The correction ended the day we hit 71k
59k to 71k is plus 20% so we are in the beginning of a new bull run.
Of course it is a bare minimum to qualify. But it is plus 20% so if we float around at 71k or so it is baby bull beginning not correction.
With Iran popping drones and missiles all over the middle east many are stacking wealth into btc since you can blow up a house you can blow up a painting but you can't blow up btc if it is stored correctly.
According to Grok there were 3 bear market bounces of 20% or more during the crash of 2022 before the market eventually hit bottom. While I don’t put any value on the number of bounces, a 20% rally not leading to a bull run is nothing new. Failure to put in a new short term high above $74K was a clear indicator the trend is still down.
I tend to agree with the part that it is currently unclear, but I wouldn't proclaim any significance of the 74K spot so far.
Besides, the classical definition of a bear is 20% down, but the reverse 20% is not a bull definition.
Bull definition is the increase that brings about a new high (after a 20% decline).
By this criteria, no true bull until we breach 126K.
Sure, there is value in trying to define what is a bull market versus a bear market, yet getting back to the prior ATH seems a bit much.. even though on a personal level, I largely conceded that we were no longer in a bull market around the time of our late January / early February dropping below the mid-$0ks without any real return after a few days... .. so then it had seemed to be clear that we had gotten knocked out of the bull market - yet at the same time, I have trouble trying in any territory that we are not in one or another.. so then in that sense, perhaps from my own somewhat lame definition, we can ONLY be in bear or bull at any given time.. so then the question might be at what point can we confirm that we have returned back to a bull, and surpassing the ATH seems a bit much.
I recall that in 2023, it started to appear clear that we were back to the bull in around late 2023 when the BTC price started to pump (from $27k and upwardly) which was largely due to an anticipation that the BTC spot ETF approval was imminent.
I am not sure if it matters the reason for the pump, yet when it starts to seem that the bottom is "in" then the return to a bull market could be called.. and I am not exactly sure when that would be triggered, and there could be some symbolism that is involved since getting back above $100k and staying there for a few days, and maybe even more than a week, may well be enough to proclaim that "the bottom is" more likely "in" than not... so then when the odds for up become greater than the odds for down, seems to be my own personal (and sure perhaps somewhat lame and difficult to pinpoint) definition of what might allow me to start to perceive that it is quite likely that we have returned to a bull market.
However, this might be too strict
You don't say..??.??
and going backwards we could all agree, perhaps, that the last bull started at 15.7K, but we only knew it for sure once it exceeded the prior high of 68.6K or about.
By the way.. $15,479 was the bottom.. on Bitstamp (our official price measure)..
For me, I think getting above something like $35k in around November 2023 and staying there for more than a week or so had brought quite a bit of confirmation (or was it conviction?) that we had returned to a bull market and the bottom was in.
Therefore, current market could be a new bull, but also may be a bear bounce.
I agree that once we know that the bottom is in, then we can retroactively describe the whole period from $59,930 (on February 5th-ish) and upward to have had constituted a bull market, even though we were not able to "confirm" that the bottom was "in" until a later date... which maybe staying above $100k-ish for a week may well be enough. By the way, I would choose a lower price, except in this case there seems to be quite a bit of value in that round number of $100k.. it has some seeming ongoing symbolism in the brains of "us" mere mortals.
By the way.. I will concede that there might be some scenarios that we do not have to return back above $100k to confirm that our current bottom is in, which surely could be a product of both time and price and perhaps if there might be some plausible explanation (news) for the price going up and becoming less likely to retest the bottom.
@philipma1957 can you please open your thread for saving merit record for sometime
I have one that I believe it's worth sharing there.
Been scared for days someone shouldn't cross it without me saving
1234Not wanting to ruin ur lil party
(or maybe I am?). You reached such fabulous
and largely random numerology on Friday the 13th.
I am not sure if such an event is such a good thing.
[edited out]
Sure...a recovery, but only future would say if it was a
baby bull or just a bounce.
However, i hope for the former.
"Baby bull." You deserve a virtual slap for that one.
Sure...a recovery, but only future would say if it was a baby bull or just a bounce.
However, i hope for the former.
I could change my name to future if it would make the truth easier to digest for you.
Jokes aside,
as long as we keep seeing lower highs the bear market is in place. This latest bounce that resulted in a rejection at the $74K resistance level was actually extremely bearish.
The lower highs theory is not implausible
(and not even stupid, in spite of its author proponent.. hahahahhahahaha).. especially since it works, until it doesn't... depending on timeline in which such lower highs are proclaimed to exist, too.
Poll
