Bearish for sure. Every massive run needs a pullback. Especially for alts which got insanely pumped for no reason. You will see coins retrace upwards of 95% their ath if not more. Look at the daily drops. That's a clear indication people are parting well before it really hurts. I expect by mid summer altcoin 24 hour vume will be severely low along with prices.
Altcoins will be the ones mostly affected by the bear market, since they're highly dependent on Bitcoin. Prices are still going down, so my guess is that 2022 will become an extremely-bearish year for crypto. This kind of market behavior happens after the end of the "hype cycle", so there's no reason to be alarmed. The smart money will buy the dip as this is just a temporary situation. Once everything goes back up again, we should expect major cryptocurrencies to reach new All-time-highs. Bitcoin is the main mover of the market, so if it experiences high gains, altcoins will do the same.
What matters is not the price per coin, but rather decentralization/censorship-resistance. As long as crypto stays that way, it'll last a lifetime no matter what. Who knows how the future will look like with government-issued digital currencies and decentralized cryptocurrencies as the dominant forces of the mainstream economy? Just my thoughts
