Who would search on google for whether crypto is in a bear market or not? Well, I guess the 2021 peak buyers(both of them peaks included), the SHIB holders, the LUNA-wrecked people, and every noob out there trying to figure out when is he going to break even after buying tops.
I have no doubt anymore that crypto is in a bear market, I have already stated that a couple of times on my blog... I refused to believe we're gonna have one, after a BTC peak of just $69,000, but here we are scrambling for $30k.
According to google trends the search for is crypto in a bear market shows us that such sentiment is at pretty much its previous peak and it's funny, but the last time the masses have asked google something like that was in May, right in between peaks.
Interest in this regard can be noticed to be quite considerable in 2018 and 2019 as well, but the crypto crowd back then wasn't that big, thus the trends weren't as high four years ago as they are now. Is this a bottom indicator? It might be, temporary, as BTC is on a downfall for eight weeks straight and at some point we will probably have a rebound.
But the bear market can still last two years or so. I've got a question bothering me for a while, though: if the 2021 bull year(two peaks six months away from each other) wasn't the same at all as 2017(full-blown volcano peak), why would the 2022 bear market be similar to the 2018 one?
Probably because the majority is expecting it to be, but the majority is always wrong. The majority thought BTC would top around or above $100,000, the majority(myself included) believed in a supercycle, and once again the majority thought LUNA was a good investment.
I know I might be biased toward thinking that the bottom might be in, but when you see so much negativity all across the place don't you think the bottom might actually be in? The current times remind me of 2020 when no one was seeing a way out of the hell that was unleashed upon us and although BTC touched $3,000 for a brief moment in March 2020, falling from around $8,000 that was supposedly having the halving priced in, it has nevertheless passed $20k by the end of that year.
Crypto is still correlated to traditional markets and quite a bunch of related analysts expect the S&P500 to bottom at around 3,600 points, sometime this year. I've got another question: are the money-making machines gonna tell the plebs where the bottom is? I doubt that...
So, the bear market is here, but where is the bottom? Well, we might have had it already and even if it hasn't happened yet, one thing you can be sure of is the fact that the majority will not know when that occurs and they will wake up too late, same as it happened at the end of 2020 when BTC has galloped over $20,000 and above, but the plebs were still waiting for it to go down so they can embark. Didn't happen...
What do you think, dear sir, reading this shit post of mine?
Thanks for your attention,
Adrian