Do you think bitcoin will continue to grow in the medium-term? Although I don't know what the medium-term means to you? 3, 5, 8 months? Do you not consider such a scenario, which was in the distant 2017, that this year will end and with it the bull run will end and a protracted bearish trend will come?
Medium-term for me starts once everything from China is done for, and not just the PBOC statements, everything I mentioned before, as there will be a lot more news, there will be probably some arrests, some raids, some more services shutting down one by one, once this is all over I expect a period of continuous small gains, starting probably December / January, not without the usual pumps and retracements but noting really major till another event will act as the trigger for a new ATH, but probably 2023, not 2022.
So medium would be at around 12-16 months in my opinion.
If nothing bad happens I don't see any reason to turn bearish, the empty mempool that has been going like that for two months tells me that people are switching to full hold mode, and there is no way to have a continuous dump without coins being dumped.
As for the 2017 comparison, I don't like comparing situations that were in the past, for me TA and indicators are best used to try to make animals or other funny pictures fit the graphs, past situations that are happening in somewhat similar fashion are just coincidences, not rules. On top of that, I'm not really a fan of percentages, all my life I've had to deal with situation when we didn't have to pay 6% more on a bill but 136 euros on top of the previous, for example, so when somebody sees growth of 300% from the other ATH I only see 40k so my perception of market changes is a bit different and far more relaxed.
