⏲️ When does the bull market end?? Where are we now? *This is a post filled with personal opinions. Where are we in the bull market right now??? There was someone who used to discuss how all the looping would burst, (Concluding that the DeFi loopers seem to have somewhat organized themselves. Did I get it right?!?!) The next thing that started to be discussed was How long do you think the bull market will last? Personally, these days, when I check the crypto industry and various news, it feels like the market is expanding at a very fast pace. Big companies like Naver, Upbit, Kove, Kraken, Tether, etc., are ramping up their acquisition wars and expansions at an incredible speed. Not to mention the ETF side, the RWA side, and the on-chain securities side are the same. But on the contrary, looking at the charts, it feels like we are in a phase where most weekly and monthly divergences are appearing, and the upward momentum is gradually starting to fade. Anyway! The conclusion I've drawn is that we are left with the last fireworks festival. ------ 1️⃣ The possibility and end of the last fireworks shown by this major liquidation. It seems like it hasn't been long since the major liquidation happened, but the market has already returned to a normal trajectory and is operating. It feels like a midsummer night's dream..? Well, anyway, personally, this liquidation has shown that we can move forward again at the speed of recovery (since it was shaken off, it's right to go up!) On the contrary, I think it was a good example of how fragile the market is. Even in the middle of a bull market, there was a case where Bitcoin briefly dropped and a coin hit $0.01. If the bear market starts and bad news starts to break one by one, I’ll leave that to your imagination. In a way, it felt like a teaser version of a bear market in the distant future...? It's still too early to collapse!! This month's liquidation show tells us that while also indicating that when it collapses, you guys will really be in trouble~ ------ 2️⃣ The start of a bear market begins with madness. If you ask if this is madness, honestly, I don't think anyone would say it is. Isn't it when all the IPOs in the U.S. are happening on-chain, and people are shouting that crypto is divine!!? The warning lights are on, and divergences are well stacked chart-wise, and in the end, the only thing that has fallen is madness. I guess all the behind-the-scenes work for the last fireworks of the bull market has been done? I personally feel that if just one drop of madness falls, it will be perfect, so once I start seeing that, I will step back from spot trading and focus on farming instead. ------ 3️⃣ Aggressive infrastructure expansion and leverage of crypto companies. Looking at crypto giants now, I think many are expanding aggressively. Crypto-native VCs are prioritizing startup investments, but web2 companies, exchanges, OTC desks, miners, energy industries, etc., are continuously expanding with various large capitals. Naver's acquisition of Upbit, Kove's acquisition of Echo Liquidifi, Circle, and many other M&As are in progress. These are exciting stories, but thinking back to the past, when did large companies start their acquisitions and expansions? I think it was usually before the last fireworks. Whether it was during FTX or CME, I feel like it was all similar. Anyway, I see it as a leverage stage where even those who were making good money are starting to release what they have accumulated one by one. If just one drop of madness comes in, it would be easy for everything to tumble... ------ Anyway, the conclusion I've drawn is that there is one last drop of madness left in Q1? Q2? of next year. Honestly, for those who look at charts, I think not many people buy when divergences are piling up like this on a monthly basis. Objectively, it's true that the fuel is running low, but if it just falls because the fuel is low, no one will be able to catch it~ Personally, I think the last madness will start when U.S. IPOs open on-chain for everyone between the web2 and web3 markets, but what it will be is just a guess, no one knows~ One last drop of madness and market cleansing. Whether to enjoy the madness or just play conservatively from the end of this year is still undecided. *This is all personal opinion; if you disagree, your argument is probably more valid. ㅇㅇ #크립토 #상승장 #하락장