Over recent weeks, the industry news cycle has seemingly ticked positive, stakeholder sentiment is more cheery than sardonic, and the value of Bitcoin (BTC) has begun a foray to the upside. All this, coupled with the fact that trading activity has purportedly skyrocketed, has left a multitude of commentators on their toes as they eagerly anticipate a notable rally in crypto assets.
Yet, some have maintained a bearish tone, relentlessly calling for BTC to go sub-$3,000. These short-term bears, who have yet to retreat into a state of hibernation, cite Bitcoin’s historical market cycles to back their forecasts. But, could their harrowing wails for lower lows truly come to fruition?