The Daily Dive #016 - Price Consolidation Continues
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Over the recent six weeks, bitcoin has been heavily consolidating in the $30,000-$40,000 level. Many have been left to ask: Is bitcoin in a bull market, a bear market, or neither? The truth is: somewhat all three? Bitcoin is in a secular bull market, with entire countries adopting the asset, and with Wall Street and institutional money slowly but surely getting involved. However, from the traditional view, the price of bitcoin is currently down 47% from the all-time high. To the legacy crowd, this is considered a bear market.
The Daily Dive #016 - Price Consolidation Continues
The Daily Dive #016 - Price Consolidation…
The Daily Dive #016 - Price Consolidation Continues
Over the recent six weeks, bitcoin has been heavily consolidating in the $30,000-$40,000 level. Many have been left to ask: Is bitcoin in a bull market, a bear market, or neither? The truth is: somewhat all three? Bitcoin is in a secular bull market, with entire countries adopting the asset, and with Wall Street and institutional money slowly but surely getting involved. However, from the traditional view, the price of bitcoin is currently down 47% from the all-time high. To the legacy crowd, this is considered a bear market.