Bears Are Out Of Touch With Reality, Here’s Why

Recently I have heard some study cases from the crypto bears, claiming that the bull market is not sustainable because (according to them) the average people struggle to buy groceries and inflation is still high, and thus, the bull market won't extend to a bull run.

However, in my opinion they are very out of touch with reality. The issue is that wealth gap nowadays is very wide. While it's true that the average joes struggle to buy groceries, but the upper class is getting richer more than ever. There was even an Instagram story that compared the investment between different items in the past 14 years and she concluded that if you bought a standard chanel bag 14 years ago and attempt to sell it now you would have made over 250% profit. Average joes dont buy or sell chanel bags, but rich people do. the fact that demand for luxurious goods keep soaring show that the wealthy class keep making record profits.

So yes, even though the middle and lower class struggle more than ever in history, the upper class is actually getting more and more purchasing power every year. And this is exactly why bull market will return, because the ones that have the money to move the crypto market is the upper class, it has never been the average joes who struggle to buy groceries.