Economist Tuur Demeester: Bitcoin is not yet in a bull market and is in the final stages of a bear market

Cigar Demeester, a cryptocurrency critic and economist, recently spoke about the current valuation of Bitcoin and said that the current valuation is determined by the accumulation of Bitcoin. He said that the market is in a state of war between the bear market and the bull market. He believes that as long as Bitcoin trades below $6,500, it is in an accumulation phase. He said, "I am not going to say that we are in a new bull market, but I do think that we are in the final stage of the current bear market."