The Truth About This Crypto Bear Market That Everybody Seems to Deny | HackerNoon

Once bitcoin’s price went below its 2017 peak, the naysayers came out of the woodworks.

Let’s not get so wrapped up in despair that we neglect to acknowledge the truth: if bitcoin’s price stays above $15,500, we’re already in a bull market.Don’t get mad at me. I don’t make the rules. I don’t even like using the terms “bull” and “bear” to describe this market, but others do. As such, I must oblige.

As with previous bottoms, these signs can last months, with bitcoin’s price going sideways or bleeding out for just as long. The process can take a while to play out.Even if bitcoin’s price stays above $15,500 for the next year, people will tell you it’ll go lower. Recession, Tether, regulators, etc.We’ve had a lot of turmoil in 2022.Yet, Tether still exists. Many exchanges are still solvent. Digital Currency Group still makes money.That can change in an instant.

With so much supply in the hands of people who really want it and so few sellers left in the market, even a modest rise in the inflow of new money will drive prices very high, very quickly. Then the last stragglers will cash out and crash the market, but not enough to send bitcoin’s price lower than $15,500.

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