We exited the bear market earler than expected - page 6.

pixie85

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Quote from: Wind_FURY on May 27, 2021, 04:49:06 AM

The bear market happened so very fast that you question if it has truly happened, or saying if it existed recently, would question if it was a lie. Haha.

I’ll post this again. Fudsters and trolls say the market is in “fear” and/or “capitulation”. From this point of view, we are returning to the mean. Cool

You're joking, right?

Do you think we were in despair in those 2 weeks of red?
Despair comes after months of decline when price goes close to the last ATH or to the 300 day MA. We are like half way there at the moment.

What about bitcoin cycles where bear market takes a year or more?

If we go to 25000 from here we're in a bear market.
If we go to 50000 it means this was only a correction in bull market.

It's this simple!

Silberman

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Quote from: Poker Player on May 24, 2021, 10:58:08 PM

Quote from: Cnut237 on May 24, 2021, 09:44:20 AM

Not sure about exited - I don't even think we entered it.

There has been a huge price surge since the end of last year. I think that the price drops over the last week or so are simply the inevitable correction. Sentiment overall is not bearish, it's just that the higher the prices go, the more people start to get a bit twitchy, and eager to sell at the first sign of trouble... which of course has a snowball effect.

But look at the charts over a long time frame, switch to log scale to get more perspective... and it doesn't look bearish at all.

I feel the same way, and have reflected this in other comments on the subject. Perhaps the drop has been a little more pronounced than I expected due to institutional demand, but I have not felt that we were entering a bear market, unlike some of the comments and posts I have read. I keep repeating that we are going to reach $100k this year. The weak hands have already sold, and when we go a little higher, there is going to be FOMO again

This movement was necessary so we could get to that 100k at the end of the year, there were simply too many weak hands that were blocking the ability of bitcoin to remain at the 60k level so the correction was necessary, as you say the correction was heavier than we thought but that only means that we had more weak hands than what we thought at first and without them and with the rest of the holders having diamond hands it is easier for the price to grow more aggressively at the end of the year.

suzanne5223

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None of the FUD (Korea restriction, Elon FUD and the Chinese mining issue) will kill Bitcoin, it will only influence the price of the Bitcoin market and there's a consensus debate going on and I hope will lead to a better conclusion about Bitcoin mining once the mining energy consumption/carbon emission is fixed other FUD is just a small problem.

In meantime, if this issue is not fixed in time the current FUD could be the first step to market correction so it too early for us to conclude that we have to exit the bear market.

AicecreaME

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It's more convincing if you'll show us some proof (price chart explanation) that'll prove that we're already in a bearish market. A lot of stuff are going to that affected Bitcoin price to plummet, but that's not enough reason to call the market a bearish one, who knows it's just fuelling the massive bull run.

I mean, let's say it's already bearish, so what's new about it? hodl is the key to secure our profits and patient.

nightxglow

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Yes, i guess people are getting smarter, not letting those external factors to interfere with the price. As long as we believe, I believe that the demand of bitcoin will continue to be high, which will be resulted to a higher price. So it will be easier for us to escape the bearish. It's not that bad too though, the price went down a little, but I'm pretty sure it will sky rocketed soon enough, since everyone has a big expectation to bitcoin as well, and we gain a lot more new supporters thanks to bitcoin hype.

maydna

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Quote from: mamahdedeh on May 27, 2021, 08:13:33 AM

From the image you include, you can see the general market scenario. but in the cryptocurrency market the whales also play an important role, and such a scheme may be broken, because as we can see the market always seems to form new peaks, even though like in the previous year the price of bitcoin fell to $ 3500, until now.

But we don't expect to see the price will go down for $3,500 because if that thing is to happen, you can imagine there will be a mass panic from people. That will be the best time for people who have a lot of money because they can buy as much bitcoin as possible and hold it for more. It is like a big party to buy bitcoin at that price, but many people will be disappointed because they are losing too big money.

Hopefully, this will end soon, and the price will come back with the big support that can lift the price to break every high price and make a new ATH. I think that will happen this year, but we need to wait for that time.

mamahdedeh

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Quote from: Wind_FURY on May 27, 2021, 04:49:06 AM

Quote from: justdimin on May 26, 2021, 10:49:42 AM

Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

Bear market? The price is at the $39,000 price, so that’s not really bad. A lot of people never believed it will even reach this far, to start with. I can remember very well that when the price crossed $20,000 to $24,000 a lot of people were celebrating and we’re doubting that it is going to reach $30,000. But we still saw that happen and the price crossed the line and kept breaking new boundaries. So, being at $39,000 right now is not that bad.

In the last few days the price has dropped to $34000 and recovered from there, and some people took that opportunity to earn as well. The time I am going to start saying we have entered the bear market is when it drops below the $30,000 price range.

The bear market happened so very fast that you question if it has truly happened, or saying if it existed recently, would question if it was a lie. Haha.

I’ll post this again. Fudsters and trolls say the market is in “fear” and/or “capitulation”. From this point of view, we are returning to the mean. Cool

From the image you include, you can see the general market scenario. but in the cryptocurrency market the whales also play an important role, and such a scheme may be broken, because as we can see the market always seems to form new peaks, even though like in the previous year the price of bitcoin fell to $ 3500, until now.

husnija

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are you that sure? Of course I also hope that the bad situation has passed, dizzy if you keep thinking about the state of the market in the last few weeks
it's time to return reach all time higher

Wind_FURY

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Quote from: justdimin on May 26, 2021, 10:49:42 AM

Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

Bear market? The price is at the $39,000 price, so that’s not really bad. A lot of people never believed it will even reach this far, to start with. I can remember very well that when the price crossed $20,000 to $24,000 a lot of people were celebrating and we’re doubting that it is going to reach $30,000. But we still saw that happen and the price crossed the line and kept breaking new boundaries. So, being at $39,000 right now is not that bad.

In the last few days the price has dropped to $34000 and recovered from there, and some people took that opportunity to earn as well. The time I am going to start saying we have entered the bear market is when it drops below the $30,000 price range.

The bear market happened so very fast that you question if it has truly happened, or saying if it existed recently, would question if it was a lie. Haha.

I’ll post this again. Fudsters and trolls say the market is in “fear” and/or “capitulation”. From this point of view, we are returning to the mean. Cool

justdimin

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Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

Bear market? The price is at the $39,000 price, so that’s not really bad. A lot of people never believed it will even reach this far, to start with. I can remember very well that when the price crossed $20,000 to $24,000 a lot of people were celebrating and we’re doubting that it is going to reach $30,000. But we still saw that happen and the price crossed the line and kept breaking new boundaries. So, being at $39,000 right now is not that bad.

In the last few days the price has dropped to $34000 and recovered from there, and some people took that opportunity to earn as well. The time I am going to start saying we have entered the bear market is when it drops below the $30,000 price range.

wahyu wida

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Quote from: Ararbermas on May 26, 2021, 09:57:57 AM

Quote from: ?? on ??

Who knows if the bear market is over! And if this is the end of the bear market then there is a possibility that Bitcoin market value will surpass $60k before end this year hopefully.

for me i can say bear market is already ended because it's quite now in the market unlike the day after the massive decline wherein a lot of people panicking and selling even at loss, reason market fell like a rock..
But now seems its done and mostly showing green unlike before wherein market is full of blood.

So stop wondering why there's no improvement after the tragedy because we need to understand the situation that the market isn't fully recovered that's why still no changes.. Just be patient time will come for it.

when there was a massive decline at that time, indeed many people panicked over Ellon's statement, coupled with the statement of the Chinese government, but we can see that currently the market tends to be ranging, and hopefully now the correction has ended and the market continues its bullish trend.

Kittygalore

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I don't think so, we more or less have overstayed in the bull market rather than entering earlier into the bear market, that is if we use the year 2018 as a reference.

Ararbermas

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Quote from: ?? on ??

Who knows if the bear market is over! And if this is the end of the bear market then there is a possibility that Bitcoin market value will surpass $60k before end this year hopefully.

for me i can say bear market is already ended because it's quite now in the market unlike the day after the massive decline wherein a lot of people panicking and selling even at loss, reason market fell like a rock..
But now seems its done and mostly showing green unlike before wherein market is full of blood.

So stop wondering why there's no improvement after the tragedy because we need to understand the situation that the market isn't fully recovered that's why still no changes.. Just be patient time will come for it.

Karartma1

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Quote from: Wind_FURY on May 25, 2021, 09:57:47 AM

Quote from: Karartma1 on May 25, 2021, 07:38:20 AM

I'm sorry to say this but another Elon's tweet helped a small recovery recently. This isn't good, the market needs to forget about following influencers, this doesn't help on the long run.
For what it's worth I'd have expected a lower price right now and I could have been happy about it: I'm stacking furiously at these levels.

Elon Musk’s influence over the market, and its participants, will slowly go in due time. There was John McAfee before him, and before McAfee, there was Roger Ver. If in doubt, ZOOM OUT. No one truly had an influence over Bitcoin’s price. It’s simply on its own in a path of price discovery.

I believe we're completely on the same page here, I think the same as you. People come and go, ideas matter and the idea (plus the protocol/technology) behind bitcoin will always stay. No one could change that, not in a million years and the bitcoin avalanche will keep growing.

paxmao

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I do not think there was a real bear market, just a correction after a massive fuss and smoke screens launched by Elon and the likes of him. Once more, the crypto market shows its ability to actually educate people, even if it is done in the hard way. People who have invested and aware of the cryptomarket understand much better the ups and downs and that not everything that goes down means that the market is Bearish, but rather that there is a correction that is due after the hype, just like in 2018, but with more awareness on the public.

Dollar_Hunter

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Quote from: ?? on ??

We don't naturally enter the bear market so I believe that we are still not in the bear market, the dip of the market just came up because of what Elon Musk did, but if this is now a bear market then I don't actually think that it is now ended because the price of bitcoin is still continue on dropping, well the good thing is that the drops didn't work continuously because there are still times that bitcoin bounce back again.

If you look at the current conditions, it can be said that prices are slowly recovering,
but I'm not sure in the near future the bear market will end soon,
for bitcoin itself I am sure it will recover either in the near future or in the future

Wind_FURY

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Quote from: GideonGono on May 25, 2021, 02:13:56 PM

Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

Let's just hope that you're right that we are already out from the bear market and it only took 3 weeks instead of a long time hibernation.

If this is really the end of Bear season then should we expect another ATH record for this year?

I truly believe so, although I’m not an expert. If not this year, then on 2022, during Bitcoin’s extended bull market. The Fed has BRRR printed trillions of Dollars. Where, in your opinion, will they go once inflation goes up after 100% reopening of the economy, and you already know that Bitcoin is a black hole for Fed Dollars. Cool

Haunebu

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Am not sure if the bear market has actually ended even though prices are slowly recovering at present. Musk's tweets have a diminished effect on cryptocurrencies after his fickle nature was exposed recently.

Some world governments could still continue spreading FUD which could help the bear market persist. However, if there is a flurry of positive news, the market would go back to being bullish.

davis196

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Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

I don't think that this is an actual bear market.It's just a price correction after "the Elon pump&dump".
There was FUD coming from China and from different places,but the Bitcoin price is stable at 35-40K USD,so the FUD doesn't work anymore.However,this might turn into a bear market,if there's no support for a price above 40K USD.Many people will get tired of waiting for a price recovery back to 40-50K USD,so they will decide to sell their BTC at some point.

teosanru

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Quote from: Wind_FURY on May 24, 2021, 07:31:25 AM

We exited the bear market earlier than everyone expected.

The prices might only start to surge from here. Many people said that the Korea FUD, the Elon FUD, and the China FUD will kill Bitcoin. But what it actually did was speed up a 3 year bear market into a 3 week bear market. Cool

I think such sort of scenario did happen in the previous crash too when Bitcoin went from 19k to 8k once again in just a few weeks but then it retraced back good even went up to 14k but yes largely after that time we largely traded in the range of 8-12k. I think on similar lines we might get a price surge from here and then we might come down gradually and stay in this 30-35k range this time which is almost 50% from the all-time high and yet not below the previous all-time high. But if we go below the previous all-time highs, I would be really surprised with bitcoin as an asset.

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