Bitcoin is going UP because there are new BIG investors and more people believe on Bitcoin.
and many organizations accept bitcoin payment
AND SO BITCOIN GO UP TO $20000 AGAIN
If Bitcoin goes back to 20,000$ it will then very easily proceed towards 20,000$ and more. IF. But
technically we are still in a bear market, I am afraid.
What kind of "technically" are you talking about? Some kind of definition in your own head, or other people are saying "we are in a bear market," so it must be true?
Nope. Everything is just in the charts, we like it or not. Since ATH we are in a very clear downwards channel. Every new high this year has been a lower high, each of them piercing upwards the downward channel a little bit with very typical bulltraps, the latest of which exactly on the day of your post. Basic Technical Analysis.
Perhaps. However, being in a "bear market" versus being in a bit of a prolonged correction could be merely a matter of framework.
Bitcoin took a bit more than two years to go up from the mid $200s in mid 2015 to its $19,666 price peak, and so retrospectively we could have labelled that as a bull market, but I don't think that we realized that we were in a bull market until around May 2016 or perhaps later. Similarly here, I think the term bear market is too prematurely applied because you even seem to accept a definition of being in a bear market is that the price is more likely to break out to the downside rather than the upside.. and I am not quite there with you with such assumptions, even though a lot of people are continuing to make these kinds of assertions. Even if the price does break down in the next time around, might not confirm that we are "in a bear market" because it could merely confirm that "the bottom of this current correction is in".
By the way, there have been at least 4 attempts to significantly break below $6k since early February.. which also would tend to give less credence to your "bear market assessment" and really suggest that a bear market label remains premature.. at this time.
I am afraid we still have to find a bottom.
Your afraid because you have a feeling that weighs more towards down rather than up, but you really are just grasping at straws and trying to describe the downside scenario as more certain than even you can muster up in your own thinking.
I wish I were wrong, since I am am on the wrong side of the market, ie holding.
Well at least you are doing one thing right, and holding. Perhaps your too strong of a negative assessment might be causing you to be making a mistake by not buying a bit more at these prices.
I wish I had sold my BTCs at the time of my previous post, now I could buy them back 2000$ cheaper.
So fucking what? Almost everyone who is holding any kind of quantity of BTC through the ups and downs can look at the BTC price in retrospect and say to him(her)self, " I wished that I had sold a bit more when the price was higher." That is not saying anything. Of course, any volatile market is going to have ups and downs and the bears are going to attempt to take advantage as much as they can of downward BTC price momentum to attempt to get people to sell their coins at the bottom by misinformation and continued attempts to push the price down. At a certain point, they run out of sellers.
My analysis was correct, but my FOMO was wrong.
I am not sure what that means. It happens to a lot of us that we might buy too much as the price is going up, and then the price reverses on us.
I have been in bitcoin since late 2013. So I had found out about how to get into bitcoin towards the top of the then price surge to $1,163, and therefore I bought throughout 2014, while the price was going down. Furthermore, I was afraid to sell any BTC in 2015 because I would have been selling at a loss, so I held and bought a bit more here and there. By the time late 2015 came along, I had figured out a strategy that I could sell a portion of some of the coins that I had bought in the lower $200s for higher prices in order to prepare in the event that the price went low again. In October/November 2015 when the price shot from about $280 to $500, instead of selling some of my BTC as I had planned, and alternatively instead of HODLing, I bought some BTC close to $500, and it took more than 6 months for those $500 BTC to return to profitability. So certainly, I understand the feeling of FOMO buying, and there are a lot of people that get sucked into that kind of trap.. especially if they are new to bitcoin and have not figured out a more rational strategy to deal with BTC price spurts, which are nearly inevitable with the ongoing price dynamics of this market.
So the best strategy is to buy on the way down and to sell on the way up, and if you get emotional about what you are doing, then the alternative would just be to HODL through it.. and perhaps you are attempting the HODL strategy at the moment, but even if you have fears and senses of certainty about which way the BTC price is going, you gotta take your own feelings with a grain of salt, because in the end, BTC prices can go either way, and any current assessment of a BTC "bear market" seems way too premature.
