Has the bear market started?

[Power420]

Bitcoin price touched $65k to $56k in just two days. Bitcoin price is in full bearish current position, maybe we are going to reach bull run very soon. Do you think we are headed for a bitcoin bull market or a bear market?

[TomPluz]

Do you think we are headed for a bitcoin bull market or a bear market?

Right now, BTC is at $57K and I would say that this is a dramatic fall as it was more than $60K some days ago. I am in fact quite surprised by this weakening stance of Bitcoin and I am sure that we can expect some further deterioration of its price as the market sentiment is now enveloped by a big bearish mood. Now, can we say that we are already in the bearish market? I would not speculate on that but judging by the coin's performance for the past many days, I think we are witnessing the return of the bear though it does not mean that the bull is already out as there can also be a big chance that the market will be reversing in a moment. The weakening of Bitcoin is happening partly due to the continuing outflows in ETFs so unless there can be a new direction in the market, most probably we can see BTC going backward as low as $40K...and that is something I dread and should not happen.

[tranthidung]

Bitcoin price touched $65k to $56k in just two days. Bitcoin price is in full bearish current position, maybe we are going to reach bull run very soon. Do you think we are headed for a bitcoin bull market or a bear market?

It is a healthy correction after many months of bullish, 7 months as you can see in the table [1]

[1] https://cryptorank.io/price/bitcoin

NUPL indicator shows that we are good to cool down as expected. I believe if Bitcoin stays around $50,000 to $60,000 for some months, it will be better for accumulation and will help Bitcoin to rise stronger next several months. [2]

[2] https://www.lookintobitcoin.com/charts/relative-unrealized-profit--loss/

[Gurujebs]

Bitcoin price touched $65k to $56k in just two days. Bitcoin price is in full bearish current position, maybe we are going to reach bull run very soon. Do you think we are headed for a bitcoin bull market or a bear market?

I'm not an expert when it comes to bull run but I know for a certain that bull run doesn't happen the same year the halving occurs. So we can assume now that the $56k we are seeing right now is a market correction and this one is a healthy one because it's happening gradually and not crashing like it used to do in the previous crash, so we should anticipate for bull run later and he got the best for the market.

[dekafee79]

Bitcoin price touched $65k to $56k in just two days. Bitcoin price is in full bearish current position, maybe we are going to reach bull run very soon. Do you think we are headed for a bitcoin bull market or a bear market?

It looks like we will see a bearish season in the next few months, and after that we will see a bullish season. This is just an analysis and prediction, it could be that the bullish season ends before the Bitcoin halving. And be prepared that if this is true, many people will be disappointed.

[Jamal Aezaz]

That was just a temporary dip and now the market is better in worth as compared to previous worth because it is now 60k$ which means that it has again entered into the range of 60k$ which will soon go higher. People should use that lower value for buying more Bitcoin but people often get scared by examining that the value is getting lower.

Most of the people will regret that they have not sold their assets when the price was 73k$ but I don't think that bull season is over so wait until your desired worth attains because one day price will surely go higher than your buying worth. If bull season ends then we will not see the 60k$ of price again therefore don't lose hope as everything will become better.