This round of BTC is 126000, and the bear market is understood at 40-50k. Digital currencies are not as good as gold and stocks; otherwise, in the next round, there will be no space and no one will play.

This round of the bear market should fall to a maximum of 70,000, which is basically the position where it stops falling. First, this round is completely different from the previous bull market in 2021. The last round had almost no institutions, government, ETFs, or MicroStrategy. Various seemingly impressive positive factors. The last round was purely normal interest rate cuts and halving + the first support from Old Ma for purchasing Bitcoin with Tesla, driving a series of FOMO emotions. This round of FOMO cannot be stimulated at all. Whatever the president supports or stablecoins, nothing has pushed it up. What does this indicate? This round is still relying on the old capital from the last round. If there were really new participants entering the market, such levels of positive factors would have already broken previous highs. The last round surged from 10,000 to nearly 70,000. That was real FOMO, that was a bull market. We are now only slightly above twice the previous high; is there really any FOMO sentiment? To be honest, even the sentiment around gold is stronger. After I finish my meal and go for a walk, I can hear the elderly downstairs discussing gold. Only when it gets crazy enough that you want to sell your house and car to go all in, that kind of decline is what marks the beginning of a bear market.