Welp, in my opinion, there are two potential places we could be. We're either coming out of the Depression stage and entering Disbelief, or we're still in Denial and the Panic and Capitulation are still coming.
Unfortunately, we won't know until after the fact. But, I will say, that it seems to me the longer this rally sustains itself, the more likely we're in Disbelief and Capitulation is behind us.
As I said somewhere else, a case can be made that the FTX debacle and Bitcoin plunging below 20k down to 15k was the panic/capitulation. But, again as we all know, Bitcoin rarely does what everyone expects so...?
Hopefully, we've seen the bottom and we've entered Disbelief. I know I, for one, have a hard time believing this is the beginning of another bull with all the negative economic news still to come.
Time will tell.
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