The BEAR market is OVER! The BOTTOM is IN!

The Bitcoin bare market is over. The bottom is in. Now, do I know that for certain? Of course not, because nobody knows because it’s based on supply and demand of the actions of 8.4 billion people around the world. But there is a lot of evidence to say that the Bitcoin bottom is in and that the bare market is over. So, let’s walk through that. First of all, we’re getting close to the point where past bare markets ended. Now, you could say yes, technically the 2017 uh peak, which resulted in the 2018 bare market was a little bit longer and the 2022 bare market was a little bit longer, but not much longer. Technically, if we uh this bare market lasted as long as those, it would end sometime between October 4th and October 17, which is between 46 days and 59 days. So, some people would say no, the bare markets got at least another 46 to 59 days left. But remember, both of those bare markets were driven by very cryptospecific things. The crypto ICO boom, initial coin offering boom of 2017 resulted in a big bare market in 2018 that was very specific to the crypto industry, which means it dragged it down harder and faster and longer than it otherwise would have. The bare market in 2022 was driven by the uh crypto market boom of 2021 which was driven ultimately by a bunch of shenanigans uh related to BlockFi, Voyager, Three Arrows Capital, Genesis uh and numerous others culminating ultimately in the bankruptcy of FTX when Sam Bankman uh freed went to prison. So that was a very cryptospecific thing again resulting in that bare market being longer deeper and more lasting than this one in my opinion is likely to be. So the reason I think the bottom is in is in this one is I don’t see any reason that this bare market has to be as long or as deep as past bare markets. We still have not spent an entire single day, not even one single whole trading day with the price below 60,000. The same thing happened in 2022 at 1616,000 nearly uh almost one quarter of the current price. And again all of that the bare markets of 2018 and 2022 were very cryptospecific. Uh same for the bare market in 2012 which was very short and the one in uh 2014 which was the longest and the worst of them all by far. the the bare market uh in 2014 was you know the the price was was quite bearish for 2014 15 and 16 even though it was technically going up during that whole time uh the malaise in the market place was you know pretty bad okay so in this case I think it feels about right that the bottom was in uh 49 days ago I think it was 49 or 45 whatever days ago on July 1st at a price that dipped below $60,000 on that today and was the lowest dip below 60,000. So it feels like that was the bottom and that would have been about 8 months in. So if past bare markets averaged about 12 months, this one about 8 months feels about right. And the lowest the price got was a draw down of 54% which was shallower than any historical bare market. Additionally, we’re just coming off a couple of things that are pretty significant in the Bitcoin community that had basically zero impact on price. The first was the cold card hack, which more than hund00 million dollars was lost uh due to basically arrogance and bad software coding by the people at Coite uh the makers of the cold card um device. Of course, I was telling everybody all along to use BitKey, and Bit Key is fantastic and it’s not susceptible to vulnerabilities like that, which is why I recommend it because it’s so much better. But anyway, more than $100 million was lost in that hack and it basically had no effect on price. In the early days of Bitcoin, that would have had a massive negative impact on price. So, generally, you know, you’re near the bottom of a bare market when something bad happens and everybody there’s nobody left to sell. There’s nobody left to panic. There’s nobody left to run away and say, “Oh, no, cold card. You know, the end is near.” All those people are long gone. There’s nobody left in line. So when all the people that could, you know, freak out, spook out, bail out, when all those people are gone, then something like the coin uh the uh cold card hack happens and there’s nobody left to sell. The market’s basically as low as it can go. So that happened and again, the price did not go down because it just feels like we’re at the bottom. And when when you’re at the bottom, it kind of doesn’t matter what else happens. The price just doesn’t go down anymore because the people who still remain are committed. they are high conviction holders for which some stupid crypto hack that doesn’t even apply to the you know 99.9% of them it just doesn’t move them anymore. Uh additionally we are now past the chain split caused by BIP 110. BIP is Bitcoin improvement proposal 110. BIP 110 which was stupid from the beginning was a small cabal of people who are positive that they were going to force Bitcoin to bend to their will. Now the whole thing was stupid. They never had a chance of making Bitcoin bend to their will. The whole point of Bitcoin is you is nobody can make it bend to their will. I can’t make it bend to my will. You can’t make it bend to your will. Michael Sailor can’t make Bitcoin bend to his will. And Black Rockck can’t make Bitcoin bend to their will either. That’s the benefit of Bitcoin. It is a neutral reserve currency, which means it’s not controlled by anybody. Even the entire power of the US military cannot force a change on Bitcoin. That’s the point. Well, a small group of people got positive. They essentially ended up super delusional and they ended up positive that they were going to change Bitcoin. So, they did this thing called BIP 110 where they forked off and they were absolutely certain that they were going to force everyone else in Bitcoin to follow them. And of course, the way Bitcoin works is the default answer is no. If nobody changes their software, Bitcoin just keeps right on going. So, there was no way people like me and Coinbase and Michael Sailor were all going to go update our software like the Bitcoin node I run at home. I’m not going to go update it with some stupid code change based on some improvement that they think they’re going to make to Bitcoin that I don’t want, that I don’t think we need. And so, everybody felt the same way. So basically on uh August 8th, about a week ago, a week and whatever half ago, uh Saturday, a week ago, so it would have been like 11 days, um their chain broke off. So, the BIP 110 chain broke off and then froze, meaning it got a couple of blocks and then it just completely locked up and stopped processing transactions because none of the Bitcoin miners were willing to mine blocks on a dead chain. Which is exactly what all of the people like me knew was going to happen. Which is why I did a video uh where I said all of the people behind BIP 110 were going to get humbled because that’s what Bitcoin does. as soon as you start getting this Messiah complex and you think Bitcoin needs you and that Bitcoin, you know, you’re going to improve Bitcoin some way. So that’s what happened. Their fork forked off, nobody followed them and it froze up and it locked up and now it’s dead. BIP 110 is dead. It’s sitting there completely dead. Well, again, that was an opportunity for fear, uncertainty, and doubt. It was an opportunity for people to go on Twitter and Facebook and, you know, proclaim the end is near and there’s all this uncertainty and all that sort of stuff. But again, nobody cared. Nobody cared because in Bitcoin, you don’t have to care. If somebody’s doing something stupid, you can just ignore them. If the federal government is printing a bunch of US dollars, so what? It just makes my Bitcoin price go up. I don’t have to care when other people are being stupid and irresponsible. Well, that’s what happened with BIP 110. People were being stupid. I don’t have to care. And they forked off and now they’re sitting on a dead chain and you don’t care. I don’t care. Bit Key doesn’t care. Bitcoin doesn’t care. Who cares? It’s stupid people doing stupid stuff. You don’t have to care. The federal government announced this morning that they’re going to print a ton more money uh in the in the form of bond buybacks. Well, I don’t care. I mean, I do care because it’s going to screw over a lot of people that don’t own Bitcoin. But I don’t have to care because I’m a Bitcoin owner. So, they print more money. The value of my Bitcoin goes up because they can’t print more of my my Bitcoin. So, anytime you have these multiple repeat instances of potentially negative things that could have caused fear, uncertainty, and doubt, but don’t because the price is just as low as it’s going to go. It feels like we’re at the bottom. So, this morning at a Bitcoin price of 64,500, I went on Facebook and I made two posts and I said, “Look, I think the bottom was in on July 1st. I’m just calling it. I think the bottom was in on July 1st. I think the Bitcoin bare market is over. I think it’s been over for however many days that’s been, 45 days or however many days it’s been since July 1st. I think the Bitcoin bare market is over. I think it’s done. I think that was it. I think we have been in a bull market ever since. It just doesn’t feel like it because everyone still has PTSD and the price has not that much changed from what it was before. But I think the bare market is over. I think it’s done. I think I think it’s a thing of the past and I think now we get to enjoy three plus years of Bitcoin bull market because the bare market is finished. That is what I think. I could be wrong. Of course I could be wrong. I could always be wrong. But I it feels like that’s where we are. It feels like that’s what’s happening and it feels like there’s going to be a whole lot of fun ahead uh in the upcoming bull market. So a lot of things are lining up. Um, you know, the price right after I did those posts this morning on Facebook, the price bounced by $4,000, up 5%. Um, you know, which felt good. It felt like I called it before it happened. Um, but regardless, it just again, it feels like that was a bottom. It feels like we have three plus years of bull market ahead of us, which is lots of fun. Not that there are not pullbacks along the way, but generally it’s a lot more fun to have pullbacks on the way up than just grinding sideways or down, which has been mostly the case for eight of the last 10 months. Eight of the last 10 months, I would argue we were in a bare market. Uh the last, you know, month and a half or so, I would argue we were not in a bare market. Uh since July 1, I would argue we are actually in a bull market. Uh we’re just in the early stage of it. So, it just doesn’t feel like it. So, I’m calling it. I could be wrong. Of course, I could be wrong. The price could undercut 58,000 or 60,000 one more time. Whatever. If it does, so what? It’ll last a day, a week, an hour, a minute. Who cares? I just think the bull market is has already started. I think the bare market is over. There’s a lot of evidence that points to this to that by James Czech. Again, just it feels I was I lived through all of this in 2022. I know what it feels like and it just feels like the bare market is over. That’s what it feels like. Um I could be wrong and we could have one more bout of volatility, one more undercut of 60,000, but it feels like it’s over. It just feels like we’re in the early stages of a bull market, not the end of a bare market. And I’m confident enough to do a video calling it. And if I’m wrong, I’m not going to go delete this video. Uh because I don’t do that. You know, if I’m wrong, it is what it is. But, you know, the video will live on regardless. But I think the bare market’s over. I think the bull market has already started. And I think now is a fantastic time to buy Bitcoin because I think right m now you have the maximum upside with the least downside you could possibly get in Bitcoin. Now, are you going to get the same upside if you buy it at 68,000 that you would have gotten at 64,000? Almost. In the long term, it’s not gonna nobody’s going to care when you’re up 500%. If you’re up 500% or 505%. That extra five percent is not going to make a lick of difference in the long term. What will matter is how much Bitcoin you bought in the 60,000s. And you can buy Bitcoin in the 60,000s right now because I think the Bitcoin bare market is over and the bull market is ahead. So, same advice as always. Buy as much Bitcoin as you can. Hold on to it for as long as conceivably possible. And if you have more than $10,000 of Bitcoin, safely secure it on BitKey. BITKY website bitkey.world bitke.w. By far the best place to secure your Bitcoin. And uh anyway, enjoy the bull market. I think the next, you know, three plus years is going to be a ton of fun with great returns. And I think Bitcoin from now forward is going to outperform every other asset you could possibly put your money in. So mark my words. This is the video. I’m declaring the Bitcoin bare market over and I think the bull market is ahead. I could always be wrong, but that’s what it feels like. And I’ve been through this before. This is my third Bitcoin bare market. And it just feels like that’s where we are. Hope it helps. Buy as much Bitcoin as you can safely secure it in BitKey. And uh enjoy the next three years. It’s going to be super fun.