I don't know if I'm a seasoned veteran and so it hasn't affected me as badly this time around or what? But it doesn't feel like we have hit the "capitulation" phase yet. I mean it's been a brutal winter, and there's an argument to be made that dropping through $20k and straight to $15k and change was that capitulation but...I just don't feel nearly as negative about things as last time around. I'm hoping I'm wrong and the bottom is in but it just has always seemed in the past there is always one more shoe to drop when you least expect it.
I'm happy for a few days of green, but I'm not convinced we're out of the woods yet.
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Well if you recall last time spiked higher, and thus the dip crashed lower.
An 84% dip in 2018 vs 77% in 2022: huge difference.
And that was just for Bitcoin.
Steem got absolutely destroyed (99% drop) until we inevitably forked to Hive, and after we forked to Hive we got one very short lived x10 off the Huobi listing and then continued to trade in the gutter till 2021. Nothing will ever be that bad again for Hive, which is likely why we will never feel the sting of a "real" bear market. Our version of a bear market was absolutely crippling and gut-wrenching.
Well, there's that. I guess it's all relative. I don't really care either way, tbh. If we stay here or go lower, more time to stack. If we're starting the climb, I now have enough to take advantage. I just have a hard time believing that with all the negatives out there this is the time Bitcoin chooses to break out. But, it's crypto....