Is bitcoin in a bear market? Most of the prevailing wisdom is that this is a bear market, but sometimes the truth is in the hands of a few people. Sometimes it is necessary to think in a new way, to discard the old way of thinking and start over.
Maybe bitcoin isn't a real bear market right now? This idea comes from the thinking of Elon Musk, who has been out of order recently, saying that he sold bitcoin, sending a message that he is short bitcoin and bitcoin will fall.
Anyone who knows Musk knows that he is suspected of cutting leeks. The dogecoin in the past, and the support of Bitcoin to buy Tesla, etc., are classic contrarian indicators.
More recently, he said he sold his bitcoin holdings, raising the suspicion that he may have gone bottom-fishing, that the richest people he represents may have done so, or that bitcoin is near a bottom. The old idea of a two-year bear market with a bottom at 10, 000 May no longer be true.
If so, the bitcoin bear market is now nearing its end. The previous 17k was most likely the bottom of the trend, and bitcoin is now in the bottoming phase.