I know many of us in the community are clearly still in a state of denial about the realness of this bear market.
i don't think there is anybody left who doesn't KNOW this is a bear market. but still that doesn't mean price will fall down to all these ridiculously low price predictions that is becoming too common these days (not necessarily this one but generally speaking).
Why do I say this? It's because I still see many people that scoff the researchers and analysts by saying things like they do not know bitcoin,
The growth of new active bitcoin users is slowing, which by "Metcalfe's law" indicates that the cryptocurrency's market capitalization will not grow as quickly as it has, some Swiss researchers said.
That's $41 billion, or nearly 35 percent, less than bitcoin's market capitalization Monday of $118 billion.
usage of market capitalization in these statements of them prove that they don't know cryptocurrencies and how market cap works for them.
it says "cryptocurrency's market capitalizationwill not grow as quickly as it has", i say he doesn't know what he is talking about. i can start up a shitcoin creating machine and pump the "market cap" up within a week. it just needs coinmarketcap.com to list them on their website otherwise making a new token with 100 billion coins and with the value of less than a dollar increases the total MC in a blinking of an eye!