Hey Snowowl. Thanks for your input. Wow...if we're still in autumn, it'd be the longest bear market in bitcoin history. Of course the majority of bitcoins were traded under $1000. Naturally as prices rise, the actual number of BTC traded will be reduced...at least until we see institutional money come on board in a meaningful way...then all bets are off. Until then, holding bitcoin purchased for under $1000 is a pretty low risk play. Especially if you believe the stock market is artificially propped up. I think many big players are adding gold and BTC to their portfolio, hedging against a possible recession.
Still, anything is possible. As you say, "be prepared". As a trader, I don't care if the market goes up or down...I just want it moving! ;-)
I agree, bitmex and bitfinex aren't the best exchanges to trade on at the moment. Best to wait until their legal issues either blow up or blow over. While I don't discuss where I trade, I can say deribit and bybit seem solid.