This year must be the most boring year in cryptocurrency for most of us. We are facing a huge bear market. There were a lot of bull traps and we felt right down after we saw a little growth in the price. But things are not too bad !
Every market in the history completes a market cycle of bull run and a bear market. Bitcoin have lost 80% of its value, didn't grew for 2 years and boom, 7 times increase in initial value ! We have seen this many times in cryptocurrency.
Is this the end of bear market ?
No one can tell but in our opinion it is the end. Here are some reasons to support our feeling.
Charts
Bitcoin has retraced to 61.8% level. This is the critical level that a market has to maintain and Bitcoin is highly respecting this level. It has not fallen below that. According to history when Bitcoin has touched that level there is a reverse breakdown of the market.
Bitcoin ETF
This is a great news for us. Bitcoin ETF if is positive then it will drive crypto market up and if it is verified by SEC then our good times will begin. Even if it is negative we will still have a chance to grow. Probably there will be some blood bath in the market but we will recover. No matter it will be positive or negative, we will see a bull market till EFT arrives.
Bunch of good news
It you search Cryptocurrency news in Google then you will get a bunch of good news coming. News is what lets the dumb money in in bicoin. It will help us grow. Because if dumb investors, there was a squeezing effect that lead Bitcoin to grow and it will create a FOMO which will further increase the price hence resulting in a bull run.
Everything written here is only our opinion, it can be true and it can't be! Do your own research before investing.