Are we already out of the crypto bear market?
Are crypto prices already out of the bear market?
Technically speaking...
Yes, yes they are.
What do I mean by that?
Well, if you do a tiny bit of digging you will see that the definition of a bear market is defined as a market where an asset is down by more than 20% off its highs.
We check that box easily...
However, a further bit of reading states that when an asset bounces roughly 20% or more off its lows it is said to no longer be in a bear market.
Well....
Bitcoin is roughly 33% off its lows and many altcoins are 50%-100% off their lows.
Which means...
Technically, by the definition given above, we are already out of the bear market. :)
(Source: https://twitter.com/hal_kho/status/1112065356061765634)
So, the next time someone tries to tell you how bad this bear market is, just tell em we are already out of the bear market.
(That's not to say we couldn't fall right back into a bear market, but it is interesting to note never the less.)
Either way, it makes for an interesting talking point.
Stay informed my friends.
Technicals are not so interesting. Market patterns always can surprise you )
Yep, they sure can.
I feel like these definitions needs adjusting for crypto.
By this definition every correction is a brear market.
No?
If it goes down by over 20%, yes.
I generally consider anything less than 50% a normal correction in bitcoin.
Every bubble had >50% crashes
Well said. They have declared Bitcoin dead how many times?
Just because it's in a bear market doesn't mean dead... though in a "normal" asset class it is pretty unusual to see something fall by 90% and then go on to make new highs roughy 5 different times in the last decade.
Great way to put a positive spin to it! It seems thay we are at that “disbelief” phase where we expect it to continue lower.
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Yep could be. Often when people expect something to go lower, the lows are already in.
The bulls are raging 🐂🐂🐂
Need to break through 4,300 to really start rocking.
I’m going full bull when we can have a weekly close over that $6000 Bitcoin resistance 🤑
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Yea, that will be the sign of the bull market officially returning. It will be tough to crack that without some massive momentum.
Hey, we finally agreed on something 😂
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What do you mean?
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I think there’s another steep drop coming
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Why do you think that?
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That is the hope.
In my opinion, we are out of the bear market, and we will go up in the next month. It is especially important to go steady so we can keep going up for a long time.
You might be right. Why do you think that?
Not only BTC is creeping up to the current resistance line, but I'm pretty confident we will break it, based on some analysis I´ve seen...
Which resistance line are you referring to?
I guess we already broke it this morning, I was referring to $4200, which will now become our support line.
Yep, we are breaking out now. Looking for a move to $5k, and possibly $6k.
it's been a long winter lol
Finally time to shed the parkas?