The last few weeks have seen the crypto marketplace  Bitcoin bears at bay. However, this attempt has proven to necessitate the biggest efforts for the downside market. Additionally, Bitcoin has been battling its 2019 high of $13, 000. For weeks, the price has been falling and rising around this support and it hasn't been quite easy to overcome the $13k price hurdle. Currently the coin has dropped below $10, 000 and now trades around $9, 700. 

A couple of traders and Bitcoin proponents are in rush to compare the current $14, 000 run; as a resemblance to the events in 2017 that were the root of <a href="https://www.cryptoknowmics.com/crypto/bitcoins-computing-power-is-on-an-all-time-high/">Bitcoin’s all time</a> $20,000 high. However, there are a few crypto proponents who believe the comparison is wrong and completely unfair. Mainly given that the 2017 all time high was influenced by the surging Bitcoin <a href="https://www.businessinsider.com/this-stockbroker-is-warning-investors-not-to-follow-the-cannabis-hype-2018-9?IR=T">hype rather than market</a> play. Hence, it can only be fair to brush off the speculations since Bitcoin has not been able to reclaim its 2017 glory. 
<h4>No connection between bears, 2017 ATH and Expected ATH</h4>
Michael dispelled the similarity notion for a Bitcoin all time high (ATH); and stated that the current market situation is only comparable to 2016’s Bitcoin bearish grip. The 2016 break out set the early stage for a subsequent crypto boom in 2017. Michael shared his speculations in a tweet which has since attracted massive responses from the <a href="https://www.businessinsider.com/this-stockbroker-is-warning-investors-not-to-follow-the-cannabis-hype-2018-9?IR=T">cryptocurrency community</a>. Meanwhile, the bitcoin proponent explained that the market situation in 2019 will only result to euphoria once the bearish sentiment has been dealt with. Only then, can the bitcoin cycle experience yet another all time high. 

Michael suggestions possess a seemingly bearish cycle market that could possibly result to a serious bull market. Which eventually will send the bitcoin market into euphoria. In any case, and in relation to the events in 2017; Michael’s sentiments might be true and the bitcoin market could be heading towards an all time high.

&nbsp;

&nbsp;

What Euphoria  Lies at the End of the Bitcoin Bear Cycle?

The last few weeks have seen the crypto marketplace Bitcoin bears at bay. However, this attempt has proven to necessitate the biggest efforts...

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

What Euphoria Lies at the End of the Bitcoin Bear Cycle?

Top Picks