TWO MONTHS OF BORING PRICE ACTION

The sentiment was probably at an all-time low in late December for the cryptocurrency market, and FTX collapse back in November was just a punch right in the face of the market. It let million of investors broke and what came after was about two months of boring price action I have seen in a very long time in crypto. It reminded me a lot of the January to March period in 2019. The markets were essentially dead, no one wanted to hear about crypto at that time. Then the markets rallied catching many who had been waiting around to buy when Bitcoin hit a thousand dollars off-guard.

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That is a heated rally because many people missed the opportunity. There is a potential that we will see a similar rally just like early 2019. For those waiting for $10,000 to buy, I wish you luck and I hope you have your limit order set because chances are if 10k does come, you might still be hoping for 5k. The bear market has been pretty spectacular because there have been some moves over the last few weeks in Altcoins. Big coins like Sol did 100%, Lido finance did 200%, and Bunk went up over 1,000%. The whole liquid staking narrative is taking off over the last few weeks we the announcement that the Ethereum Shanghai upgrade will enter its test phase in February.

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We are seeing artificial intelligence coins pump off the hype around charging GPT. While this rally could still have a lot of steam in the tank, just keep in mind that we are in a bear market until proven otherwise. Bear market rallies tend to be exciting that are like FOMO induce short squishes on the tin book, the price pump. If you're rushing to buy a coin after it did like 100% in a week, be careful because it might be making a bit of a risky move in the market in short term. Big corrections will happen even if we get a 2019-style rally when Bitcoin when about 340% in just 4 months, they were also a few 20% dips along the way.

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If 2023 does give us a Bitcoin of 200% to 300%, then many altcoins could do a 10x this year. You should know that big moves could happen with very little capital flow because markets are so small right now, especially for lower-cap altcoins. The seller has capitulated, and even Bitcoin miners are stacking up coins again after being heavy sellers since September making at least a short-term bottom more likely. No one knows if the bottom is in or not but the bear market rally has been very impressive.