| The bear market was actually closer to 3 years. But that ended a while back. It's now solidly in a bull market. Bitcoin is fantastic. But even fantastic assets can become overvalued. And indeed, this will happen again. There will be another bear market. I keep myself up to date on the market sentiment every day. I have been doing this for years now. The current sentiment is that we are in the middle of the bull market. Both billionaires as well as retail buyers have only just arrived. Everything is going much, much higher for at least the rest of the year. If the market cycle repeats like last time, the bull market will last at least the larger part of this year. If the cycle is lengthening, as you'd expect when market cap grows larger, then the current bull rally will last longer still: say... to the end of 2022. The question is: are we currently at the knee of a larger S-curve? If so, then we are truly witnessing a rare event, in which asset appreciations will truly blow us off our socks. In such an event, bitcoin would become too scarce for it to do another 85% retrace, which is what it's done in previous market cycles. (Any by the way... the 30-40% figure are considered normal retraces, of which we usually have multiple during a larger bitcoin bull run.) Billionaire Michael Saylor from Microstrategies is saying that he's not selling. Billionaires are, in this regard, different from retail, who do sell. The only way to estimate bottoms and tops successfully, is to be right on top of it every day of every week. You snooze, you lose. |