[Source](https://unsplash.com/photos/ZQZMJ0y7FDo/download?ixid=M3wxMjA3fDB8MXxzZWFyY2h8NTV8fGJ1bGwlMjBtYXJrZXR8ZW58MHx8fHwxNzA5NTQ2NTExfDA&force=true)
Hello fam,
It is your favourite blogger @mato445 and I am happy to make this interesting post in this community today.
INTRODUCTION
It's been nearly three years since we started yelling bull run and bear run, but how can we tell if we are in a bull or bear market? Generally speaking, we use bitcoin as an indicator sign; if its value rises, we presume a bull market is underway, and if it falls, we assume a correction. The cryptocurrency market was categorized as being in a bear market when the price of bitcoin was less than $19,000 prior to the 2021 bull run. However, as the price of bitcoin above $20,000, the market was categorized as being in a bull market, then the price proceeded to soar to above $60k reaching $69k, providing us with complete confirmation that we were in a bull market, but nobody was certain when the peak would occur.
As the market began to decline, we began to declare that the bear market was here to stay. The trick with the dump is that while bitcoin is rising, altcoins should rise as well since bitcoin dumps come with enormous altcoins dumps. Bitcoin's price dropped from $69k to $20k, the cryptocurrency industry was valued at less than $1 trillion, and the entire world pronounced bitcoin and cryptocurrencies to be scam, there was different fud and negative events which further crashed the price to $15k.
But today, after months of struggling with sec issues, different negative events and news, we finally overcome the bear and the price of bitcoin reached $67k today and the entire cryptocurrency market is valued over $1.5 trillion.
The question now is, **are we really in the bull run?**
Before we can declare the market to be on a bull run, we need to witness increases in other altcoins. Perhaps if altcoins were rising at the same rate as bitcoin, we could have declared the current period to be in a bull run. For what good is the current bull run if bitcoin hits $70,000 but other cryptocurrencies stay the same? It won't qualify as a bull run any longer. A bull run isn't meant to impact just bitcoin; it also needs to impact other cryptocurrencies, and before we can declare something to be a bull run, other cryptocurrencies must be reaching their prior all-time highs.
Steem and TRX need to break their previous highs, and Ethereum needs to trade over the $4k mark.
I think that for the time being, blackroots and other investors are only purchasing Bitcoin; the bull run hasn't yet started.
