I don't know bitcoin before 2017 even though it's actually been around since 2009. I've seen quite a few bullish from 2017 to now and the 2021 bullish is the biggest where $69K is the all-time high price for bitcoin.
We may see another ATH in the future, but it will be a while until there is a lot of demand for bitcoin. Good news, adoption, massive investment and hype are some of the reasons why demand is increasing and we can expect it in the future.
But bitcoin has provided many advantages for investors and traders so it's only natural that at this time, bitcoin is in a downtrend. Bitcoin's current position offers an opportunity for investors, especially long-term investors, to buy a lot of bitcoins before the price rises again. Bitcoin has not moved significantly upwards and it looks like it still needs more time so we should try to buy now but don't use too much money if you are unsure about the state of bitcoin that we still don't know.
We cannot remain bullish because bitcoin is a highly volatile asset. Prices can still experience correction in both the short and long term. Since November 2021 bitcoin started to experience correction till now and bitcoin has lost some of its price since ATH (-40%). This is a trend that has been going on for 3 months but there is still a possibility that this trend will continue until the decline is more than -50% from the last ATH. Besides being able to make investors and traders profit, bitcoin can also make them lose most of their investments. So it's not just about profit because if investors and traders don't have good management then they will lose a lot of money.