Bull Market Not Confirmed Until Bitcoin Price Breaks Above $11.7K Where Bear Market Began

Read any crypto Twitter feed or sub-reddit; bullish sentiment is in the air. The rally that began with a slow start in February and turned Bitcoin price into a jet-fueled rocket in April has reignited the excitement and irrational exuberance that once took the world by storm at the end of 2017.

The parabolic rise has most feeling FOMO and confident the bear market bottom is in. But some aren’t so convinced a bull market has yet to begun, and thinks that $11,700 is the only price level that if broken, confirms a bull market has begun.

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