Study Notes | Bull and Bear Markets
① The idea of a “four-year cycle” in the crypto market is often linked to Bitcoin’s roughly four-year halving, though there have only been a handful of cycles historically.
② Macroeconomic liquidity, interest rates, regulatory policies, and major industry events all affect which phase the crypto market is in.
③ Whether you think it’s a bull or bear market, keep your position size within a level of drawdown you can afford to bear.
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