The bear market in crypto is over, and there's a major tell as to why.
Everyone likes to point to trend line breaks, past market cycles, number of days, etc to point out why they think the bear market is over.
I have one very simple reason why I think it's over.
Tether.
Specifically, the tether news that dropped several days back...
You know, the one about how Bitfinex was borrowing money from Tether to cover their own liquidity issues.
Anyways, had that news dropped in February of 2018, bitcoin would have dropped by 50%.
What happened this time around?
Bitcoin barely sneezed, dropping 5% or so, only to recover all of it in the next couple days.
That is textbook bull market action.
Bad news really isn't that bad, and good news is super good news.
(Source: ~~~ embed:1124048688010211338) twitter metadata:VHV1ckRlbWVlc3Rlcnx8aHR0cHM6Ly90d2l0dGVyLmNvbS9UdXVyRGVtZWVzdGVyL3N0YXR1cy8xMTI0MDQ4Njg4MDEwMjExMzM4KXw= ~~~
That is exactly why I think the next bull market has already started folks.
Enjoy the next 2+ years!
Stay informed my friends.
-Doc
Don’t forget to mention this latest breakout in price which now put $6k within striking distance! Much sooner than I expected. Short sellers may be getting rekt soon!
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I was purposely excluding all the technical reasons, though those are likely equally as telling!
Yeah Bear market over for Bitcoin, EOS and coins with a futrure, Too bad Steem is not going to actually recover very much, maybe it will have a little bit of a ned pump after ned cashes out some Bitcoin gains he might go pump steem himself but i doubt he would trade future BTC gains for steem when he knows any investment into steem will just be cashed out immeidtaly, no one wantys to hold this anymore after ned refuses to get to work.... i mean shit why isnt @aggroed just made ceo and why doesnt @ned just collapse back into a fuckin BOARD positioon, he can choose a BOARD of Industrious Whales and delegate his SP to peopel who are the best at managing SP like Aggroed for exampel and others liek jesta peopel who compelet real projects with real value
Hope you are correct Sir 🧐
So do I...
Bear market ended in December. The bulls are back in town. $6k sooner than you think
At this pace, it may happen this weekend.
Lol I’m really not ready for the next run will need to work hard to keep upping my stakes and reducing my average buy in so I can maximize if we do ATH
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I think the ATH won't be for a while yet, but I think the train has left the station at this point.
Gotta make some purchase then!!!
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Yep, everyone has been waiting for the dip since we broke the downtrend, but we haven't got it. We may not get it since everyone is waiting for it.
Yes, that's a good point. Markets shrugged it off. Meanwhile, we've had months to years worth of bullish news about funds and infrastructure improvements, etc. Some day, we'll go a lot higher!
Yep. In bear markets good news is ignored. In bull markets bad news is ignored. I just wish steem would go up with this impending bull market. It's not off to a good start at all...
How about XRP news?
Daily great news, price still $0.30.
It may not be in a bull market yet. Bitcoin is though.
Prepared to go to the Mars now
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So, past the moon?
Rapidly 😎
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Hope you are right!
That is good news...but in my time in trading crypto, I've found that it doesn't seem to actually react much to most news. There are always people that say it's dropping because of X news...but then later we find out that the actual reason was because some idiot dropped a fuckton on the market or someone did some kind of scam or something. Bitcoin traders have been steeled to bad news. That might change when more newbs get into bitcoin again. But so far, even when they do, if they're actually in the crypto community, they get steeled to negative news pretty quickly.
There is some truth to this. It mostly depends on the magnitude of the news. Most of the news doesn't affect things fundamentally, which means prices don't react, but the few times we have had news that could change things fundamentally, the price has tended to move.
Thanks.