Why do I still firmly believe that the bull market is not over even after experiencing two major crashes?

I won't repeat the points I've made before; you can check my previous updates. Another point supporting my view is that perhaps the main upward trend of the bull market we think we know has never started, which is abnormal according to past rhythms.

A year ago, the ATH of BTC was 109800, this time it is 126200 and fluctuating around the 110000 mark, which means it is consolidating at a high level near the previous high.

If BTC has only increased by 15% compared to the previous ATH, what kind of bull market is this? At most, it has just been a wide fluctuation over the past year.

And when consolidating at a high level near the ATH, there are only three possible outcomes: the first is a top turning bearish, the second is a sideways market, and the third is moving towards a main upward trend after consolidation. Everyone has their own judgment, but I still firmly believe there will be one more big wave.

Another reason is that this year does not seem to have the typical bull market we have seen in the past. Strictly speaking, there has only been one wave since the beginning of the year, which is the market from mid-April to around July for three months, and since then, it has been in wide fluctuations. It has been fluctuating for over three months now, and the bull market at the end of the year has not yet started. During this period, it has been fluctuating; since it has not started, how can we talk about a bull turning into a bear? Where has there been such a bull turning into a bear in history? Moreover, there are still policy expectations in play.

I believe that the main upward trend of this big cycle has not yet started, whether early or late, though it may be delayed, it will arrive. Be patient and wait; if you fear a bear market, manage your position well. Currently, I am operating with half of my position, treating it rationally and leaving myself some room.