At the end of 2020 / beginning of 2021, everyone agreed that the cryptocurrency market was experiencing an obvious bull run. As of now, $BTC has gone back to 30k dollars and many altcoins have lost a huge part of their prize. However, people are divided around a critical question :
Are we still in a bull run ?
First of all, and it may be a spoiler, that's not by reading this article that you'll have the answer to this question. I'm not a magician and I can not predict the future, make your own opinion about it and try to grow your wallet as much as you can.
The reasons that have led to the beginning of the bull run were essentially the investment of important companies in $BTC and the fact that they officially and publicly announced it. The following has been incredible for the whole cryptocurrency market and especially for Bitcoin.
Elon Musk, Tesla and Microstrategy have participated to this rise but were also one of the reason that caused a slight fear around $BTC.
Indeed, he (Elon) keeps tweeting about $DOGE and is sometimes trashing $BTC, which let suppose that he is "playing" with the cryptocurrency market and its volatility.
Is it bearish ?
My first answer is probably no.
Why ? Because it's about time for people to be aware of what Bitcoin and cryptos really are. Plus, Elon has a bipolar attitude and I personally think that he will stop playing to this kind of game and will finally tell better things about Bitcoin.
Also, Tesla has stopped selling cars with $BTC. The official reason given by his CEO is that Bitcoin miners don't use enough renewable energy. However, it seems like miners are making a huge operation of switching to "green" energy for their mining pools.
My final advice
I think that we're still in the bullrun. The period we're currently experiencing is only a smooth slowdown as people have been wary and have taken their profits. You should not be worried about buying $BTC even if it is more than probable that its price goes under 30k one day. If you look back then project yourself in 10 years, you may make a 1 000 % profit.
Let's remind you that I'm not giving you any personal advice and do not invest money that you can't lose.
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