How deep into the ‘bear season’ are we?
After a relatively long run of mouth-watering run of gains, we are finally witnessing the darker side of cryptocurrency. For a while, I forgot how this space actually. Big green candles, new projects starting up with a fly and every little announcement resulting in even bigger gains. Good old days! Yeah, old days. Over two months now we’ve been in constant down trend and brief periods of price trying to fight its way back up.
I’ve written a couple of bearish articles recently; twitter is turning bearish too. It looks like that time of the year again. If we are properly in a bear season or just gearing up for one, is still a question. If bear market is even a thing is another big question. The charts look like another doomsday graph, better not take a close look at it…
Putin continues to move those tanks and military personnel; crypto and stock prices continue to ‘tank’ too. The Russian president might as well rug the whole market with those threats…that wasn’t supposed to be funny!
It’s been two months counting, those big moves still exist; just that are everything but positive this time around. A little pullback and things fall even deeper. Bear trap, bull flag; not sure which one it is exactly. I even doubt if this is a full-blown bull run. Looks like a partial one and a little pull back after most cryptocurrencies hit multiple new ATHs.
You’d expect people to take profits, and thanks to the unrest across some significant nations; the fear and greed index keeps dropping down to lower values. Many believe we’re in a super cycle; does that even exist? A popular myth, just like ‘bull’ and ‘bear’ seasons.
The market is simply responding to variations in human behaviours, this happens consistently in response to environmental and personal conditions. Just like the pandemic sent fear across the globe and crashed the market, the current move is no different.
Anyways, that was just a personal perspective presented plainly. Not necessarily right, we could be in a cycle actually. If we are in a bear season; how far have we gone? $100,000 for Bitcoin still in play for the year? Would love to get your different opinions!
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