Why I don't fear the current crypto price action

By Hashxz | Hashxz | 3 May 2022


Although I am not the best at crypto price analysis I want to talk about it a little and give you my perspective.

 

Recently many have stated that crypto is in a bear market right now and that we could be in a similar situation as 2018, I disagree with that as I think we remain in a bull market. 

 

Even though price action may make many feel like it's a bear market I think it's a mid cycle correction and will go through sooner or later. Since the recent bottom Bitcoin and Eth have been setting constant higher highs and higher lows (Ben Cowen reference), you can see that clearly in the daily and weekly chart.

 

Crypto remains strong and the evidence for that is the constant rebounds showing their are people bidding up the price, buying up coins. If crypto was in a bear market under the current circumstances (Stocks crash, War etc...) I think we could have seen 70-90% correction.

 

Take my "analysis" with a pinch of salt and pepper and DYOR blah blah blah

 

Let me know your perspective on this

 

Have a nice day!

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Hashxz
Hashxz

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