My First Bear Market - The 5 Phases of the Grieving Bear Market

Well, This baby is back!

I got some good and some bad news.

I expect BTC to go below 19K this weekend, with Grayscale not getting their EFT approved and the FED still planning to increase the rates there is very little positive news that can push the price up short-term.

On the positive side, these bear markets do not last forever and whales have been accumulating aggressively (BitcoinBabies too). Once the world accepts the global recession it normally means we already had the worst part.

Now there are 5 stages of grief you probably know them. But when I was looking at those stages it seems to me that the crypto market goes through the exact same stages when moving from bull to bear market.

The five stages – denial, anger, bargaining, depression, and acceptance –

And the fun fact here is that those often show up in the crypto-verse and that all other markets follow.

Denial

Denial, we´ve been there. It started in October 2021 when BTC went up to a new All-Time High, but once that ATH was reached the general opinion was that 100K was next.

Even when we went down like a brick the market was in denial, we would see an extended cycle!

We were all waiting on an extended cycle....that never came. If that is not enough to trigger some anger there was more.

Anger

Anger, is the stage we just passed. The anger started not so long ago with the initial global strikes and in the crypto market anger was raised when we got cheated by Terra & Celsius.

Bargaining

Bargaining, this is when everyone takes to the streets and politicians try to find a half-baked solution. This is the period we just entered if you ask me.

Depression

Depression is what we will see after the summer, when everyone gets back to work and is paying top dollars for the cost of living in poverty. Or what they consider poverty compared to a year earlier.

But once you accept your faith and accept the so-called poverty, that is when you have reached the bottom. When you are getting up again, it´s when the long journey of slow improvements starts.

Acceptance

We will reach that acceptance state during the end of 2022, nobody will expect 2023 to bring any relief. We are all doomed and then....little rays of sunlight will appear. Clouds slowly will part and markets will look green as the very young grass we will see in March.

Hence enjoy the depression and hold on till Christmas because like Uncle Bob used to say, "Every little thing is gonna be alright?"

A simple truth

This is a true bear market, but not a true recession.

We are in this mess because of all the money printing during that Covid period. There is just too much money and it will need to be integrated into the modern economic society.

Over here in the EU unemployment has not been this low since World War 2, something that totally goes against the standard idea of a recession. The world just needs to adjust to increased prizes and the compensation for labor is always one of the latter to be increased, but based on those 5 stages it will all calm down in 2023..... if no crazy poo happens.

Have a lovely day, remember that hitting the like button is one of the few free things in life, and hope to see you tomorrow.

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