Introduction: Bullish vs. Bearish: Bullish Comeback Or Trap?
Since the beginning of 2021, Bitcoin, Ethereum and the totality of blockchain markets have surged in value at an unprecedented rate. Bitcoin, reached an all time high in mid April of approximately $63,000 per coin and Ethereum, reaching an all time high of $4100 dollars shortly after on May 10th. Since then, cryptocurrencies have seen a major pullback, to a point where Bitcoin has tumbled down to $28,000 (although recently recovering to approximately $42,000) and Ethereum stumbling down to $1800. Although the recent Ethereum London Fork and the consistent burning of Ethereum has been identified as a major catalyst on why Ethereum is roaring back to the $3000 dollar mark. Blockchain markets surpassed two trillion dollars in total market capitalization nearly three months ago, where cryptocurrency markets at the time of writing this article has pulled back to approximately 1.72 trillion dollars. The big question is, are we in a bull market, are we in a bear market, or are we a “Goldilocks Zone” where within the next few weeks we will determine the answer to this question, only time will tell.
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