I know this forum is more so for the academy/coursework, but I wanted to start this thread because I know there are some brilliant minds on here and I wanted to get your take on the current market. I couldn’t find a thread on this topic, so if there is one please point me to it. Otherwise, I am excited to hear what you guys think about how this bull market is going. I truly believe the bull market is still on the rise but do you think it’s coming to a close or do you think the recent events/dips are just what we needed to keep it going?
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I just see this phase as enhanced FUD. It’s incredible how fast and extreme the market (read BTC) reacts to Elon Musk. A series of tweets dumped the market yesterday, today we saw a green candle after he tweeted about Tesla not having sold anything. This shows that the market is really sensitive and a bear is lurking around the corner. The bear may hit after this spark, but I believe it won’t just yet. The Relative Unrealized Profit and Loss indicator shows how we are still in an okay spot for the market to retake the bull. Also we still see really strong support. The people are just really scared right now, that’s why we have these huge dips. After this Elon madness, I think hope and trust will come back. To be fair, I still see BTC hitting 100k this year, with all the alts following (NOT financial advise, just hopium). I hope this was useful, pls don’t hesitate to correct me or to add other thoughts!