Bitcoin has been on the rise for about a week now. It rose to 29K+, almost hitting 30K before it dropped back to 28K. It ranged between 28K and 29K for a number of days before running up to hit 35K in the space of days. If you've been very active in the market, you would know that the last time Bitcoin got this high, it only reached 31K+. That it was about four months ago. That it has gone past that price is not an indication of bull market.
An individual who do not have knowledge of the market cycle will want to believe that we are in the next bull market. Don't be deceived, the next bull market will start in February when Bitcoin must have hit 15K or 16K. Let me break it down.
The Cryptocurrency market is in two phases. The Bear market and the Bull market. The two phases makes up a cycle in a period of four years. By the end of 2023/ the beginning part of 2024,the present cycle of the market will end. As this cycle ends, the next follows immediately. The bull market starts gradually from February but is fully ushered in and comes into full effect with the event of Bitcoin Halving which happens around June of the year when the crypto market cycle begins.
The cryptocurrency market cycle is actually started by the bull market phase. This is the period where Bitcoin and every other altcoin become bullish making higher highs on the chart every week/month as the case may be. This phase lasts for about a year and three months. Most coins makes All Time High at this phase of the market cycle.
The second phase of the market cycle is called the bear market which starts immediately the bull market ends. In the bear phase, crypto currencies continues to go on a downtrend, making lower lows and lower highs. It is the longest phase of the market and it lasts for about 2 years and 9 months.
Crypto traders and investors alike need to know this in order not to begin their crypto investment at this time. I would advise you keep your money in stable coins for now until the start of the next cycle of the crypto market which is next February. At that time, you would be able to buy any coins/tokens of your choice at the lowest prices possible.
I hope this is useful to both traders and investors in this community.