Are we in Bear Market ?
The Crypto market is known as highly volatile which means we can expect 10-15% of price fluctuation quite often. Sometimes the market seems stable and then after some time we get to see some bigger dip in the market and all of this is so common. When the bitcoin price falls then altcoins also follow a similar trend however it's not always.
After the Luna incident, we have seen the market crash and the bitcoin price dropped from 42k to 30k it was gone down even further but there was some recovery. Now, this is a common question that has been asked if we are in a bear market and if this is a bear market then how long it will continue. Bitcoin price is trading in the range of 30k USD. Here is the bitcoin price chart and may month is not good for sure and the reason is the Terra project behind the crash. Bitcoin even touched the 48k USD mark in April and in may month it has been falling consistently. Seems like there is good support at 29-30K USD but if it drops then probably we may expect more dip in the price.
It's difficult to predict how long this will continue as it's a market and we never know how the market will behave the next day. It's not good for the people who are here for the short term but those who have spent 2-3 years are well aware that this is not the first time. In fact, this is a good time to accumulate more so that when the market grows then that investment will bring better returns.
This is a good time to follow discipline with DCA because this helps us to buy more quantities of coins. It's suggested that there should be some add-on investment along with regular when there is a big dip or crash and I am following the same. With the Tera Luna incident, there is learning that we need to invest in leading and reliable proje3cts only and not the ones offering something unusual like UST was offering. I invest in Bitcoin and Ethereum along with hive tokens as I am not a pro so I try to stay away from projects of which I am not much aware. Research is always suggested before investment because without study it's not good and may lead to a loss but again any investment always comes with a certain amount of investment.
Thank you so much Stay Safe
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