This is a phenomenal chart. The current Z-Score of $BTC is lower than during the bear market bottom in 2015, 2018, COVID crash 2020 and 2022. That's how deep we're in the bear market, and yes, we're close to the end of it. Credits to @JamesEastonUK.

Let me tell you a story from younger me in 2019. I was trading the #Crypto markets full time in 2018. Pretty rational bear market, some good bounces on #Altcoins and was able to have a decent living out of it. However, I decided to be going into #Altcoins fully during 2019, and that was a bad decision as we all know that 2019 was a disaster for the markets + COVID came around. Then, during Q4 of 2019. Bitcoin stalled, #Altcoins vanished. People started calling those altcoins completely dead and useless. 'Why do we need all these altcoins in the first place?' Now, during that period I insisted of going all-in with the $30-50K I had invested in that period into crypto, and I did. In literally 12-18 months, the markets completely changed and I've changed my life during that period. During a period where nobody believed in anything that could happen with the markets. During a period where #Altcoins were classified completely dead. The point I'm trying to make is that you need to stomach a lot of hate, fear, indecision, and emotions to have that actual positive outcome. This cycle has proven to be completely different than previous ones and that's an additional layer of complexity of investing in this markets + it's taking longer. However, the longer that something takes, the bigger the reward inevitably will be. That's why I'm not selling my #Altcoin portfolio, even though it's down 70% at this point. I went down 70-80% in 2019 with my entire portfolio and I started to lose faith. The analysis and the data kept me up, and that has proven right. Similarly to the current period. The data is showing us clearly that we haven't seen any bull yet and that this cycle wil take longer. The final thing I've learned: social media sentiment can be day and night. #Altcoins can run immensely fast and reverse an entire drawdown of six months in less than two weeks. Be positioned. Be patient. Avoid leverage. Zoom out.

Yes, this is a terrible market environment. Yes, it feels like $BTC goes to $25K. Yes, it feels like #Altcoins are completely gone. No, I'm not selling my portfolio and I'm remaining patient. This is the heaviest disconnect I've ever seen between prices of assets within crypto and the fundamental growth that's been taking place.