Bitcoin is in a bear market not because it has fallen 20% and more, it is because the trend appears to be downwards and has been since November
So what next? Recently I’ve been drawing bull and bear scenarios so I’ll stick to that. A bull chart is tricky now because there is nothing that is particularly outstanding in the chart at the moment for the bull case. This is my best stab:It says the next stop is $40,000, which would surprise no one.
However, if any of the geopolitical situations, Ukraine/Russia, Iran or the China social crackdown or China/U.S. friction, boil over, then up will go bitcoin before the event. If bitcoin spikes up, you will know something wicked this way comes.
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