It seems we are already in a bear market but how far can this go? A year or two just like 2018-2019? Or this is a short term bear market? MMCrypto on youtube said that 30,000$ BTC is possible, if this do happens altcoins will bleed more than ever and this will unlock the beginning of the downfall of many altcoins.
I don't usually listen to other people's opinions of YouTube bloggers, but there is some truth in what he said. Right now altcoins are at the bottom, but bitcoin continues to fall, which reflects worse and worse on altcoins. If bitcoin falls another 30%, it will be a disaster for altcoins. In that case the market will take a long time to recover.The price dip more than 30% the first time it hits 45K+ USD but it recovers quickly on the new ATH and so on. The problem on the current upcoming bearish trend was it keeps coming slowly with consolidation which only means that Bulls is starting to weaken every week. This means for a longer recovery in general market that will suffer huge loss. A quick dump with volume is much faster to recover rather than a slow dump with continuous downtrend for long time frame. I don't believe on youtuber but sometimes its still good to watch them if they are talking with sense.
