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Bitcoin Forum / Re: Has the bear market started?
« on: Today at 12:59:55 PM »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.