Bear Market?

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I guess that is what many people are asking themselves. Bitcoin crossed the $40,000.00 support level, I guess that has the stress levels up. I just got a screenshot of Hive today also and it is way down as are most cryptos. But is it a Bear Market?

I really don't know but I have mixed feelings about this, you can see the trade levels are Ok so that isn't driving the prices down. I think this is not a Bear Market per se, it is more the result of all the bad things that are happening in the world. Things like inflation, food shortages, drums of war, the pandemic, natural disasters etc.

On the other hand the markets, at least in the USA are doing quite well, unemployment is low, in Europe there is more of a problem with rampant inflation and the Russia-Ukraine problem. I have my view about this, there is no problem there yet, Russia has troops near the Ukrainian border, well they are in Russia, it sent troops to Bielorussia, yes for some war games. I don't see Russia gaining anything by invading Ukraine so to me this is one made up crisis.

Let's see, every year the US holds war games with the South Korean army, thousands of miles from home, North Korea howls like a mad man about this but the answer is that the US and SK are allies and there is nothing to these exercises. Which is probably a correct analysis.

Unfortunately this blustering, Brexit, the EU new regulations have crypto on edge and I think that is what is forcing prices down. I think that very soon, as things go, there will be some unforeseen event that will drive prices up.