Is the cryptocurrency market really out of the bearish cycle?

Those who follow my publications have noticed that I like to bring contextualized information of the daily happenings within the cryptocurrency market, mainly those events that impact positively or negatively the price action of the main cryptocurrencies by market capitalization, that is to share my point of view of those news that I find interesting to disclose.

Having said that, today I wanted to share with you all a rather optimistic perspective socialized in the last few hours, specifically about the assertion made by Pantera CEO Dan Morehead who expressed that Bitcoin is already in its next bull market cycle.

While I do not agree 100% with what Dan Morehead said, I think we have already left behind the worst of the bearish cycle and we are in a pause zone that could probably consolidate a sideways channel and accumulation, now the question is how long these sideways movements will last and what may be the lower and upper zones of the channel.

No doubt my stance is very reserved, I put it that way since in the verbatim words of Dan Morehead "blockchain assets have reached lows and that we are in the next bull market cycle regardless of what happens in the interest rate sensitive asset classes".

In this regard, I would like to know your appreciation on what Dan Morehead expressed.

Cointelegraph Bitcoin is already in its ‘next bull market cycle’ — Pantera Capital. Link

The cover image was designed by the author: @lupafilotaxia, incorporating the public domain image background: Cointelegraph