Whether we're still in a bull market or we've entered the bear market, one thing is certain, the bear market isn't a time to take profits unless you're a day trader, it's a time to build, to work and to accumulate. However, I believe we've entered a bear market, but like the exceptional bull market we just witnessed, this bear market would be somewhat different from what we had in the past. Although not as dreadful as some analysts have presumed.
I believe the difference would lies in both the the level at which prices may drop and the duration of the bear market. For the prices, I don't expect seeing Hive drop to as low as $0.2 which was its price this day last year, That would be catastrophic for anyone who isn't a long term holder, same way I also don't expect seeing Bitcoin fall below the $20k price.
A plunge in price isn't a thing to be worried about especially when we know we're headed in the right direction and our ultimate goal is to increase the amount of our holdings. The bear market basically gives long term investors the opportunity to keep accumulating cryptos and building their portfolio.
From my analysis of the current market and also looking at the charts from the past, I can say the bear market started last December year. The bull market was wild and we saw Hive test the $3 price and BTC testing the $69k twice. With this said, I believe the next bull run is gonna be the craziest thing we've ever seen in this space and I can't imagine Hive not trading at over $20 at some point.
As for the duration, I believe we're in a bear market already but it's gonna be really short. Bitcoin Halving which is an event generally regarded as a marker for the bull run is in about two years from now. Hive has been holding up pretty fine and steady in the past month same as Bitcoin but I believe we'd be seeing a dip in the general market in a couple months. Hive's price always bounces back up so a dip isn't something I'd be worry about.
I believe we still got about a year and a couple months to stack up some Hive, Leo, Cub and Polycub while they're still cheap. It's not enough time though but I'll be going all out.
Keep Stacking Fellas!
Disclaimer:
My posts are based on my ideas as well as experiences and are not financial advices. The cryptocurrency market is quite unpredictable and full of uncertainties so please do your due research before investing in any project.