The bull market still exists

[clippers]

At present, the market value of Bitcoin has returned to more than 46%, which is a sign that the margin ratio has decreased, the bubble has burst, and the market is accumulating power.

And I think we are currently in a century-long bull market in Bitcoin. In the short term, we are in a technical bear market after a major correction.

I think that meeting two conditions can determine that Bitcoin is in a bear market. 1. The price of Bitcoin must fall by about 80%, and the high point created by the bull market cannot be broken before the next cycle. 2. The lowest price in a bear market should not be lower than the highest price in the previous bull market.

At the end of 2017, the highest price of Bitcoin was $20,000, and if the current maximum price of 65,000 is calculated, when the price drops by 80%, the price of Bitcoin should be $13,000. And this obviously fell below the highest price of the previous bull market.

These two points can be confirmed in the Bitcoin rainbow chart：https://www.blockchaincenter.net/bitcoin-rainbow-chart/

Four years have passed, unless you think that Bitcoin has not improved in the past few years, the computing power has not increased, the number of users has not increased, and the consensus has not been strengthened. Otherwise, you don't need to worry that Bitcoin will be less than $20,000. Compared with the increase in value, the current price is simply a sales promotion.

The consensus on cryptocurrency is still expanding, and there emerged the first country in the world treating Bitcoin as its fiat. Bitcoin's network has withstood the impact, and the computing power of the entire network has only dropped from 160E to 120E (compared to less than 15E when it was 20,000 dollars high before the end of 2017). Bitcoin's core technology is developing steadily. One of the most significant upgrades this year, Taproot technology has been confirmed by more than 90% of miners and will be officially launched in November. Bitcoin's old friend, the Federal Reserve, is likely to continue to maintain quantitative easing. All this shows that the bull market still exists.

Please be sure not to sell your Bitcoin when the price is less than 100,000 USD.

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[jjdub7]

Very good and interesting analysis with which I completely agree. According to many analysts on the Internet, the bull market is not over yet, despite growing fears from many people.

One of the very interesting crypto analysts "PlanB" shares his vision for reaching a price of $ 288K. It outlines a model of Bitcoin's growth with unique accuracy.
The $ 288,000 price is derived from the Cross-Asset (S2FX) iteration, while previous versions give a more modest average of $ 100,000. Both are based on the current Halving cycle, a four-year period between halving block awards (the next is in 2024).

[davis196]

I think that meeting two conditions can determine that Bitcoin is in a bear market. 1. The price of Bitcoin must fall by about 80%, and the high point created by the bull market cannot be broken before the next cycle. 2. The lowest price in a bear market should not be lower than the highest price in the previous bull market.

Do you think that those are the official conditions in which a bear market can exist?
To me,a bear market is simply when the prices are dropping.It doesn't matter with what percentage and for how long.It doesn't matter if the lowest price of the bear market is lower than an ATH or the highest price in a bull market.The fact that the Bitcoin price dropped by 80% from it's 2017 ATH doesn't mean that the Bitcoin price will drop by 80% from it's 2021 ATH.We should stop making historical comparisons.

[ven7net]

You are right, the bull market still exists and there is a high probability that the main growth will occur at the end of 2021. Moreover, if we turn to the history of the development of the crypto market, then we can see a certain pattern. It is this pattern that indicates that the crypto market is cyclical, and every four years the market goes through a cycle from falling prices to rising and reaching new price peaks. Probably, this pattern has been preserved even now, which means that 2021 is the last year of the next cycle and the main growth has always occurred at the end of the year.

[AniviaBtc]

Very good and interesting analysis with which I completely agree. According to many analysts on the Internet, the bull market is not over yet, despite growing fears from many people.

One of the very interesting crypto analysts "PlanB" shares his vision for reaching a price of $ 288K. It outlines a model of Bitcoin's growth with unique accuracy.
The $ 288,000 price is derived from the Cross-Asset (S2FX) iteration, while previous versions give a more modest average of $ 100,000. Both are based on the current Halving cycle, a four-year period between halving block awards (the next is in 2024).

Don't lose hope as long as there are ways to find if market is still bullish, we can still make profit.

Some people are panicking because they see some consolidations and downward movement in the market that's why they are selling immediately.

Thanks to this representation so that we can understand how powerful the market is and how long we can make profits.

[pinoycash]

You are right, the bull market still exists and there is a high probability that the main growth will occur at the end of 2021. Moreover, if we turn to the history of the development of the crypto market, then we can see a certain pattern. It is this pattern that indicates that the crypto market is cyclical, and every four years the market goes through a cycle from falling prices to rising and reaching new price peaks. Probably, this pattern has been preserved even now, which means that 2021 is the last year of the next cycle and the main growth has always occurred at the end of the year.

We never left bull market and in fact even when the price of BTC is still in 35k range its still a bull season. This will be a long ride and we need to expect both ups and down on the BTC price in the next few months since no one can really predict when BTC will reach another ATH.

[sapnu]

Due to the issues and news bitcoin went through, the price of it indeed went down but that doesn't necesarrily mean we already exited the bull run. If you would take a look at the price movement and the price drop as well as price increases for bitcoin and other altcoins, you can see that the bull market still exists. It is just that many people are trying to push the fact that it has already ended and displayed too much FUD to discourage other investors as they take advantage of the current situation. Always make sure you analyze the market carefully so that you wouldn't end up falling into unreal situations that may lead you to disadvantages and regrets.

[Fesatmas]

This is a good opportunity to sell, as you said that there is still hope of avoiding a bear market and returning to a path that has shown demand levels are picking up again.
Bitcoin is currently in pretty good shape, use this opportunity as a portfolio restorer and don't let this moment return with long hopes.

[Yamifoud]

We are still bullish, were not yet turn to bear season.
I was happy to see the Bitcoin price surpassing $40k but I was not thinking that is able to reach $50k.

This is a good opportunity to sell, as you said that there is still hope of avoiding a bear market and returning to a path that has shown demand levels are picking up again.
Bitcoin is currently in pretty good shape, use this opportunity as a portfolio restorer and don't let this moment return with long hopes.

And I never wanted to hear people saying just hold...
We have to take this opportunity otherwise we miss this coz we never know if it will stay long like this or not.

[Vatimins]

At present, the market value of Bitcoin has returned to more than 46%, which is a sign that the margin ratio has decreased, the bubble has burst, and the market is accumulating power.

And I think we are currently in a century-long bull market in Bitcoin. In the short term, we are in a technical bear market after a major correction.

I think that meeting two conditions can determine that Bitcoin is in a bear market. 1. The price of Bitcoin must fall by about 80%, and the high point created by the bull market cannot be broken before the next cycle. 2. The lowest price in a bear market should not be lower than the highest price in the previous bull market.

At the end of 2017, the highest price of Bitcoin was $20,000, and if the current maximum price of 65,000 is calculated, when the price drops by 80%, the price of Bitcoin should be $13,000. And this obviously fell below the highest price of the previous bull market.

These two points can be confirmed in the Bitcoin rainbow chart：https://www.blockchaincenter.net/bitcoin-rainbow-chart/

Four years have passed, unless you think that Bitcoin has not improved in the past few years, the computing power has not increased, the number of users has not increased, and the consensus has not been strengthened. Otherwise, you don't need to worry that Bitcoin will be less than $20,000. Compared with the increase in value, the current price is simply a sales promotion.

The consensus on cryptocurrency is still expanding, and there emerged the first country in the world treating Bitcoin as its fiat. Bitcoin's network has withstood the impact, and the computing power of the entire network has only dropped from 160E to 120E (compared to less than 15E when it was 20,000 dollars high before the end of 2017). Bitcoin's core technology is developing steadily. One of the most significant upgrades this year, Taproot technology has been confirmed by more than 90% of miners and will be officially launched in November. Bitcoin's old friend, the Federal Reserve, is likely to continue to maintain quantitative easing. All this shows that the bull market still exists.

Please be sure not to sell your Bitcoin when the price is less than 100,000 USD.

     Great analysis. Considering these reasons plus all the good news roaming around online which are in favor of not only bitcoin but also to the other alternative crypto currencies in this industry, we can easily deduce that we are still in a bullish market today. Just imagine how big the the famous people that supports bitcoins are. Instead of losing people, we are gaining more and more from different parts of the world that also varies in social status. These types of posts are really what interests me most. And so it deserves a merit. Thanks for the good read.

[ipanks]

If the bitcoin price really increases to $288k, I can not imagine what will happen to the potential altcoin because that can impact that coin to increase drastically or increase step by step. People will be very happy to see that price and I am sure they will make a big profit, and the whales will be the people who will make the biggest profit.

I agree that the bull market still exists because the price now increases to $40k. If this price can grow more than the current price, it will give more chances for bitcoin to rise. You need to prepare for that and make sure you have many bitcoins to hold and sell for more than $100k.

[tranthidung]

At the end of 2017, the highest price of Bitcoin was $20,000, and if the current maximum price of 65,000 is calculated, when the price drops by 80%, the price of Bitcoin should be $13,000. And this obviously fell below the highest price of the previous bull market.

Although, 80% fall is in bear market that can be considered as a gold standard for bear market, what market phase we are currently in?

Bull. We are in a big bull market, not a mini bull market. What we are witnessing is the re-accumulation in the mid of a big bull run.

Please be sure not to sell your Bitcoin when the price is less than 100,000 USD.

$100,000 is a quite humble price for Bitcoin. Above $250,000 for 1 Bitcoin.

$288K still in play. It would really surprise me if #bitcoin would not touch the black S2FX model line this phase. Regardless of current volatility, yellow green and blue dots will be (much) higher than red orange dots.

The market is repeating the 2013 bull run.

[Slow death]

At the end of 2017, the highest price of Bitcoin was $20,000, and if the current maximum price of 65,000 is calculated, when the price drops by 80%, the price of Bitcoin should be $13,000. And this obviously fell below the highest price of the previous bull market.

bitcoin drops to 13000$ is the same as saying that my country would someday have the same level of development as the USA. The rich will not leave opportunity to buy cheap coins whenever the price drops a lot, especially if the price falls below $30,000 the rich would be seeing the opportunity to make 3X easy profits and buy in bulk. currently it seems to me that the adoption level no longer allows us to see prices below $22000 if some disaster happened to make the price drop to $22000.

[pinggoki]

The bull run still exists especially today that the market is getting better and better again as the day passes by and also the bitcoin is back to $40,000 again and this is probably one of the best things that happen today as we see that the bitcoin drops for almost $36,000 which is most of us has been think that the bitcoin will continue to drops but then again we see that the bitcoin is still in the high swing and I am thinking that this will probably go higher again.

[bekti3]

We never left bull market and in fact even when the price of BTC is still in 35k range its still a bull season. This will be a long ride and we need to expect both ups and down on the BTC price in the next few months since no one can really predict when BTC will reach another ATH.

Yes, with the current situation I think it will take a while. other than that, from the existing chart, I am also very confused about the ongoing movements because it is very difficult to predict in the long term.
on the other hand this is very profitable for some traders because with this they can do short-term scalping and that I think will be very effective for now

[DeathAngel]

The bull market is only half way through. Sure we had a deep correction but we did in 2013 & rallied even harder later in the year. We will finish 2021 after seeing at least $100,000 per BTC. Have patience & you shall be rewarded.

[Tessnik]

Can one really predict the long term value of any cryptocurrency?
I don't think so because the market is a highly volatile one but again the bitcoin market is highly profitable at any price and we can be sure of good profits if you hold for long due to it limited supply of 21 million circulating supply. Either the present market look bullish or bearish it make no difference buy! buy! buy if you have the funds to.

[passwordnow]

Can one really predict the long term value of any cryptocurrency?

Yes. It is just a prediction and anyone can do that whether in the long term or short term. If you've been here for quite a long, you've seen those predictions that have been said to be accurate because they've made such predictions that are near to accurate for bitcoin's price.

I don't think so because the market is a highly volatile one but again the bitcoin market is highly profitable at any price and we can be sure of good profits if you hold for long due to it limited supply of 21 million circulating supply. Either the present market look bullish or bearish it make no difference buy! buy! buy if you have the funds to.

There's no doubt that the market is truly volatile but predictions don't require you to be so good at it. You just pick a number and give a support why you think it's going to happen, well, valid support and analysis coming from you.

[Sterbens]

the bull market is always there for those who are really positive about Bitcoin's viability. and it greatly affects a person's psychology. despite the price game managed by a handful of whales, we believe the bull market is still doing well. we need to realize that there is always great hope for Bitcoin holders.

[MinoRaiola]

The World is going to sh** and Bitcoin is the Hit!
Bitcoin has to be in every portfolio. Save your values ​​in the long term and compare them to the value system which is currently in paper money. Who knows how long we may pay with paper? The time will come.