Hey Everyone,
Is bitcoin in a bull market right now?
This is probably the most pertinent question a trader can ask at any given time, so it's a good idea to periodically examine where we stand.
For long-term hodlers, it matters a bit less, but it's still pretty important.
In terms of stocks, we can safely say that the S&P 500 has been in a bull market since 2009, not long after the Federal Reserve first started interfering in the free market in the wake of the financial crisis. At this point, the central bank has been using highly accommodative monetary policy for going on 14 years.
Today, St. Louis Fed President Jim Bullard was so kind as to note that in the long-term, they plan to let the free market once again dictate pricing in credit markets.
When it comes to crypto however, the market experienced a sizable pullback from April to May, and analysts have yet to reach any sort of consensus on whether or not that was a bear market.
As technical analyst Imran Yusof wrote on Monday, with a bit of upward pressure, we may be due for a bitcoin golden cross. But that would only be a lagging indicator.
The death cross that we all feared eventually materialized on June 19, and it came only after the price drop had already taken place.
Therefore, the opposite cross may only serve to signify a step in the right direction.
