We exited the bear market earler than expected

[Wind_FURY]

We exited the bear market earlier than everyone expected.

Not sure about exited - I don't even think we entered it.

It happened so fast that you didn’t feel it. Hahaha.

Because Bitcoin did three years worth of a bear cycle in three weeks. It’s less if you don’t count the first two weeks because everyone was still “bullish”.



 

[slapper]

We exited the bear market earlier than everyone expected.

Not sure about exited - I don't even think we entered it.

There has been a huge price surge since the end of last year. I think that the price drops over the last week or so are simply the inevitable correction. Sentiment overall is not bearish, it's just that the higher the prices go, the more people start to get a bit twitchy, and eager to sell at the first sign of trouble... which of course has a snowball effect.

But look at the charts over a long time frame, switch to log scale to get more perspective... and it doesn't look bearish at all.

I agree with your point. This drop is huge enough for others to believe that it is a sign of reversal. However, bitcoin quickly recover from the crash and now it is heading to $40000 again. There is no sign of bearish in a long term and soon bitcoin will meet the big resistance.

According to old data, bitcoin will probably hit $100k before joining the bearish cycle

[Karartma1]

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

[Taskford]

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

If people will continuously follow what he do for sure we will have no healthy market movement, its time to forget Elon Musk by now since his intentions has been exposed already and he doesn't care on adopting bitcoins, his main intention is only to gain from it and to boost up the popularity of tesla. We already done with Mcafee so hopefully it will be the same with Musk to.

[Anonylz]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

So it seem, the Elon Fud helps hasten the bear market faster than the expected time, and to me has the most impacts than even the China fud, we are already use to China banning and unbanned crypto almost every year, but Elon tweet about btc mining sure hit a nerve and made many people panic sell, it wasn't the familiar kind of fud that's it shook the market.

[Nunoluck]

I personally think that this bear market is good chance for me to buy more bitcoin. I am not sure that I can use forecasting technique for this time because this situation itself is unpredictable. But my instinct said that bitcoin price can go down lower than 30k. There are some little bounce but bitcoin price still tend to go down. Now I have to give extra attention to the price chart.

[Kong Hey Pakboy]

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

The market will have a hard time forgetting influnecers, they have the user base that follows what ever they say so we can't do much about that. Also, instead of getting rid of them, I think the best thing that we can do is to use it to our advantage.

[Wind_FURY]

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

Elon Musk’s influence over the market, and its participants, will slowly go in due time. There was John McAfee before him, and before McAfee, there was Roger Ver. If in doubt, ZOOM OUT. No one truly had an influence over Bitcoin’s price. It’s simply on its own in a path of price discovery.

[semobo]

If we actually entered into the bear market then we are still a long way to go, all the FUDs brought the bear market earlier than expected in my opinion. If we look at the daily candles then there is clearly a decline in the market for the past 3 or 4 weeks which represents the downtrend but the bear market can be only recognized in the long term and precisely only after it happened.

[sana54210]

It is hard to say what is going to happen this year. The bear market happened very suddenly and was unexpected to many of us, the same could happen to recovery. But usually after a bear market we saw some time of constant prices in the bitcoin market with only low volatility. I would be very surprised if it just rises back to the ATH now.

I feel like we are going down on volume and that may mean that we are getting closer to higher volatility in a daily move but less in the grand scheme of things. Like for example bitcoin moving between 30k and 35k in a day or moving from 35k to 40k in a day but it is not going above 50k and it is not going under 20k which let's be honest could have been expected the way we moved previously.

This is why I think it is quite good to realize we are doing fine but realize those daily huge movements we may have in the end is not because of any movement to any direction as a set movement but more like about low volume and that's it there is really nothing to worry about the daily changes for now.

[GideonGono]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation.
If this is really the end of Bear season then should we expect another ATH record for this year?

[Kasabus]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation.
If this is really the end of a season theen should we expect another ATH record for this  year?

I don't think that we are already out of the bear market since bitcoin price continues to drop at $34k but still this is nothing compared to 2017 bear season. T he price is still high but definitely a good time to start buying bitcoin.

We cannot control the market if bitcoin continues to drop but isn't it's a good opportunity for newly investors to see bitcoin reaches another dip? The more bitcoin will go down, the higher the chances it will surge into a new ATH once this bear season is over.

[The Sceptical Chymist]

I'm reluctant to quote BrianH's post for fear that it'll get deleted, but he could be right that this is a so-called "dead cat bounce".

And whether or not it is a case of that, it's way too early to know if there's a trend forming, nor has there been enough of a recovery to state with confidence that bitcoin is out of the woods yet--it's only at $37k right now, and that's quite a ways away from its ATH of $65k.  Maybe traders got a little too excited; maybe there was too much stimulus money; maybe people had far too much time on their hands and started dabbling in the crypto market--those are all reasons why bitcoin shot up as high and as quick as it did.  Perhaps $37k is where it should have been all along.

Not to mention that bitcoin was at $9k just one year ago.  That should give you some perspective, and if you keep that in mind then where it's at now isn't too bad.  Hopefully it won't drop back to $9k; if it did, then you could confidently call a bear market.

[teosanru]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

I think such sort of scenario did happen in the previous crash too when Bitcoin went from 19k to 8k once again in just a few weeks but then it retraced back good even went up to 14k but yes largely after that time we largely traded in the range of 8-12k. I think on similar lines we might get a price surge from here and then we might come down gradually and stay in this 30-35k range this time which is almost 50% from the all-time high and yet not below the previous all-time high. But if we go below the previous all-time highs, I would be really surprised with bitcoin as an asset.

[davis196]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

I don't think that this is an actual bear market.It's just a price correction after "the Elon pump&dump".
There was FUD coming from China and from different places,but the Bitcoin price is stable at 35-40K USD,so the FUD doesn't work anymore.However,this might turn into a bear market,if there's no support for a price above 40K USD.Many people will get tired of waiting for a price recovery back to 40-50K USD,so they will decide to sell their BTC at some point.
 

[Haunebu]

Am not sure if the bear market has actually ended even though prices are slowly recovering at present. Musk's tweets have a diminished effect on cryptocurrencies after his fickle nature was exposed recently.

Some world governments could still continue spreading FUD which could help the bear market persist. However, if there is a flurry of positive news, the market would go back to being bullish.

[Wind_FURY]

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market.

Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation.

If this is really the end of Bear season then should we expect another ATH record for this year?

I truly believe so, although I’m not an expert. If not this year, then on 2022, during Bitcoin’s extended bull market. The Fed has BRRR printed trillions of Dollars. Where, in your opinion, will they go once inflation goes up after 100% reopening of the economy, and you already know that Bitcoin is a black hole for Fed Dollars.

[Dollar_Hunter]

We don't naturally enter the bear market so I believe that we are still not in the bear market, the dip of the market just came up because of what Elon Musk did, but if this is now a bear market then I don't actually think that it is now ended because the price of bitcoin is still continue on dropping, well the good thing is that the drops didn't work continuously because there are still times that bitcoin bounce back again.

If you look at the current conditions, it can be said that prices are slowly recovering,
but I'm not sure in the near future the bear market will end soon,
for bitcoin itself I am sure it will recover either in the near future or in the future

[paxmao]

I do not think there was a real bear market, just a correction after a massive fuss and smoke screens launched by Elon and the likes of him. Once more, the crypto market shows its ability to actually educate people, even if it is done in the hard way. People who have invested and aware of the cryptomarket understand much better the ups and downs and that not everything that goes down means that the market is Bearish, but rather that there is a correction that is due after the hype, just like in 2018, but with more awareness on the public.

[Karartma1]

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

Elon Musk’s influence over the market, and its participants, will slowly go in due time. There was John McAfee before him, and before McAfee, there was Roger Ver. If in doubt, ZOOM OUT. No one truly had an influence over Bitcoin’s price. It’s simply on its own in a path of price discovery.

I believe we're completely on the same page here, I think the same as you. People come and go, ideas matter and the idea (plus the protocol/technology) behind bitcoin will always stay. No one could change that, not in a million years and the bitcoin avalanche will keep growing.