Which stage of the Bear Market is BTC currently in? Are we approaching the end or just getting started?

As the world's largest cryptocurrency, where is BTC in the bull market now? Are we close to the end of the bull market? Here is the analyst's forecast.
Empire analyst Jason Yanowitz said that the current price of BTC is largely dependent on MicroStrategy's large-scale purchase of BTC, while the risk investment (VC) has not yet entered the market on a large scale.
Yanowitz pointed out that in addition to Strategy's (, formerly known as MicroStrategy), which has accumulated more than 20 billion dollars of BTC purchased since the end of last year, the current BTC may still be in the early stages.
Dan Matuszewski of CMS Holdings stated, "The current market is still in a 'players playing against players' stage, and MicroStrategy's active acquisitions have limited enterprise adoption." He reiterated that the impact of the Bear Market in 2022 is still ongoing, leading to a decrease in market liquidity and a lack of large-scale fund inflows.
Matuszewski said, "We haven't seen significant VC entry into the cryptocurrency market yet, except for a few specific targets."
As the BTC cycle progresses, discussions about whether the market has reached its peak may intensify. However, Matuszewski stated that new regulatory frameworks have not yet been formed, and the implementation of these frameworks may become a catalyst for institutional capital inflows in the future.
Not investment advice
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