Is the Bull market here already?

[collins124]

After conducting some research, I have come to the conclusion that we are either close to or already in a bull market. According to Google, a bull market arises when there is a rise of 20% or more in a broad market index over at least two months.

If we look at the market capitalization of the entire cryptocurrency market, we can see that it reached its lowest point in November 2022. Since then, we have observed multiple breaks of structure on a daily timeframe, and there has been a rise of over 20% since the market's bottom. For clarity, I will attach the daily chart.

Based on the above definition and taking into account the upcoming Bitcoin halving in less than six months, it is safe to say that we are already in a bull market.

I am interested to know your opinion on this matter, and also, which cryptocurrencies are you currently accumulating?

 

[BashirJasper]

I don't think the bulls are here already. It's just the normal October vibes but might be a solid foundation for what is to come in 2024 especially if we can maintain the liquidity and TV on exchanges for as long as necessary. A simple explanation of how it helps is looking at RSI; if the RSI level is more than 70 consistently for 2-3 months, the liquidity zone may move to say $34k and the bulls may begin to arrive early.
Anyways, whoever plans to DCA now should be cautious and do it on exchanges with proven track record and high liquidity. Also, it is better you use exchanges that can give you the extra incentive of monitoring liquidity zones like Binance and Bitget for a better market decision.

 

[Captainsaudi]

After conducting some research, I have come to the conclusion that we are either close to or already in a bull market. According to Google, a bull market arises when there is a rise of 20% or more in a broad market index over at least two months.

If we look at the market capitalization of the entire cryptocurrency market, we can see that it reached its lowest point in November 2022. Since then, we have observed multiple breaks of structure on a daily timeframe, and there has been a rise of over 20% since the market's bottom. For clarity, I will attach the daily chart.

Based on the above definition and taking into account the upcoming Bitcoin halving in less than six months, it is safe to say that we are already in a bull market.

I am interested to know your opinion on this matter, and also, which cryptocurrencies are you currently accumulating?

View attachment 59295

After conducting some research, I have come to the conclusion that we are either close to or already in a bull market. According to Google, a bull market arises when there is a rise of 20% or more in a broad market index over at least two months.

If we look at the market capitalization of the entire cryptocurrency market, we can see that it reached its lowest point in November 2022. Since then, we have observed multiple breaks of structure on a daily timeframe, and there has been a rise of over 20% since the market's bottom. For clarity, I will attach the daily chart.

Based on the above definition and taking into account the upcoming Bitcoin halving in less than six months, it is safe to say that we are already in a bull market.

I am interested to know your opinion on this matter, and also, which cryptocurrencies are you currently accumulating?

View attachment 59295

I don't think the bulls are here already. It's just the normal October vibes but might be a solid foundation for what is to come in 2024 especially if we can maintain the liquidity and TV on exchanges for as long as necessary. A simple explanation of how it helps is looking at RSI; if the RSI level is more than 70 consistently for 2-3 months, the liquidity zone may move to say $34k and the bulls may begin to arrive early.
Anyways, whoever plans to DCA now should be cautious and do it on exchanges with proven track record and high liquidity. Also, it is better you use exchanges that can give you the extra incentive of monitoring liquidity zones like Binance and Bitget for a better market decision.

I have the same perception that the bull run is yet to start, most analyses are focused on the outcome of the BTC halving event, and CZ tweet also points toward that. I also agree to your advise of DCA in order to panic buy and your choice of exchange shows your knowledge of this industry.

 

[okchoitia82]

It's essential to be cautious when making definitive statements about the status of the market, as cryptocurrency prices can be highly volatile and unpredictable.

 

[xantrang8h]

What strategies are you using to accumulate cryptocurrencies during this time, and what factors influence your investment decisions in this potentially bullish market?

 

[luongknhe192]

How reliable is the 20% increase over two months as the sole indicator for determining a bull market? Are there other factors or metrics to consider?

 

[laichienduowcroi]

The cryptocurrency market has undoubtedly seen a resurgence, and many investors are looking for opportunities to benefit from this trend.

 

[colenahia29j]

While the recent market movements are notable, it's important to remember that predicting market trends, especially in the cryptocurrency space, can be highly speculative and subject to rapid changes. Calling it a bull market with certainty might be premature.

 

[quant8ranhhs]

It does appear that the cryptocurrency market has experienced significant growth recently, and based on the definition of a bull market, we could indeed be in one. It's an interesting time for cryptocurrency enthusiasts

 

[collins124]

How reliable is the 20% increase over two months as the sole indicator for determining a bull market? Are there other factors or metrics to consider?

It's difficult to determine the reliability of a 20% increase over a two-month period. While this may hold true for other types of investments like stocks, we should be more careful when dealing with cryptocurrencies because of their high volatility. While the majority of analysts are anticipating the bull market to start after the bitcoin halving, it is a common trend already to see how the market behaves differently from what the majority thinks, the need to DYOR and use the DCA strategy.

 

[esopezo21]

The jump in this last month, 26k to 30k, definitely gave some hope for the market and prospective investors. But I think the following month and what it brings is important to observe before coming to any conclusions

 

[Megamind 247]

What strategies are you using to accumulate cryptocurrencies during this time, and what factors influence your investment decisions in this potentially bullish market?

I found it difficult to choose a suitable trading strategy, particularly with the erratic movements of Bitcoin and the unpredictable behaviour of altcoins. As a result, I decided to engage in copy trading with some top traders on Bitget. Although I'm unsure how they conduct their research, following their trades has proved to be helpful for me.

 

[collins124]

What strategies are you using to accumulate cryptocurrencies during this time, and what factors influence your investment decisions in this potentially bullish market?

I would like to emphasize that the DCA (Dollar-Cost Averaging) strategy is highly effective in accumulating cryptocurrencies during the bear market. However, before employing this strategy, it is important that you conduct your own research (DYOR). Factors such as the token's performance during the bear market, as well as its use cases and tokenomics, should be taken into consideration before accumulating any token.

 

[BashirJasper]

The jump in this last month, 26k to 30k, definitely gave some hope for the market and prospective investors. But I think the following month and what it brings is important to observe before coming to any conclusions

A lot of people attributed the price action to the fake ETF approval news but it's happening again right now just when the news of the Blackrock ISHARES BTC being listed on the Depository Trust and Clearing Corporation with the ticker $IBTC suggesting that the approval is all but complete. We can now see another spike to $31k. Now put it into perspective, if a spot ETF finally gets the greenlight, then the bulls are surely gonna come. However the charts are showing a massive liquidity pool settling at $25k - $26k, so DCA is preferable here but get your fiats closer for any eventuality. You can also utilize some trusted AI bots to invest at good price for you. I sure use one on Bitget at the moment

 

[esopezo21]

I have no experience with AI bots before, I need to do some research on that. I want to increase my BTC investments in the next downward trend, so I'll have to look a bit first to find the AI bot that suits me best. I need to get the moment of entry right

 

[ImamShaheb]

How reliable is the 20% increase over two months as the sole indicator for determining a bull market? Are there other factors or metrics to consider?

On my opinion,a 20% increase over two months is not a reliable sole indicator for a bull market. Other factors to consider include market breadth, economic growth, investor sentiment, regulatory environment, and long-term trend. That's why, exchanges like Bitget offers tools and resources to help investors make informed trading decisions.

 

[R100K-Martin-Lunger]

I'm optimistic about the current cryptocurrency landscape. I see strong indications that if we're not already in a bull market, we're standing on the cusp, as:

1. Bitcoin's riding above its 200-day moving average, which is a classic bullish signal.
2. The total cryptocurrency market capitalization has surpassed the $1 trillion mark, marking a significant step in the market's growth and maturation.
3. Institutional investors are warming up to cryptocurrencies, indicating increased confidence.
4. The crypto space is buzzing with innovation, with new blockchain platforms and applications emerging constantly. This innovation is drawing in more interest and new investors.

While the crypto market's volatility poses risks, I think the potential rewards and the transformative power of digital currencies make this an encouraging period. I'm optimistic that this bullish trend still has room to flourish, bringing further growth and maturation to cryptocurrencies.

 

[BashirJasper]

I have no experience with AI bots before, I need to do some research on that. I want to increase my BTC investments in the next downward trend, so I'll have to look a bit first to find the AI bot that suits me best. I need to get the moment of entry right

AI trading bots are quite interesting as they give you efficient trading strategy, maximize earnings and remove personal emotions. Though its risky deploying untrusted ones as they can be easy route for hackers to exploit your wallet. However, there are few trusted ones out there like the AI grid trading bot and martingale all available on Bitget. There also others affiliated to coindesk but I haven't tested those ones yet.