The bear market lasted 31 months – over two and a half years. Of course, the Nasdaq incorporates the largest US tech firms. Many of the smaller ones multiplied by many times more than the Nasdaq, and when they failed, they disappeared altogether. The volatility of Bitcoin and, especially, altcoins is Author: Dominic Frisby. The recent bear market (Dec. Dec. ) needed days to go from its ATH to its ultimate low. That’s more than three times longer than average. This suggests that Bitcoin sellers have been far more aggressive than buyers. by Donald Pendergast. Bitcoin’s bear market. You’ve likely been hearing this phrase for most of Jun 03, · Bitcoin experts had warned it could take another days following Bitcoin’s halving to break above $10, A bottom around September would be just over days .
How long will bitcoin bear market lastHow Long Will the Bitcoin Bear Market Last? - TotalCrypto
Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies. All Rights Reserved. Advertise Submit a Press Release. Home Cryptocurrency news Bitcoin. Reading Time: 2min read. Reloads and free spins available every day, for every player, in mBitcasino Crypto Autumn Bonanza! Play Now! Tweet Share Could you be next big winner? Tony Spilotro I'm Tony Spilotro.
Related Posts. Technical Analysis. Cryptocurrency news. Remember, the halving event leads to a big drop in daily mined bitcoins. The block reward went from 25 BTC to Do you follow Elliot Wave Theory?
A typical bull run will see five waves on the way up. The amount the price can pull back must meet certain expectations or the wave count becomes invalid. Most notably here is the fact that we cannot go below our previous resistance point after making a fresh leg up at the start of a new wave pattern. So the pullback must find support at what was previously a resistance point. This price point never ended up getting re-tested much before we violently consolidated upwards and started pumping hard throughout Want to figure out where the bottom will be?
It could be met with a sudden spike upward that never reverses or complete stagnation like near the end of the bear market. Lastly, the market was much different back then as the supply was higher 3, coins mined daily vs 1, now and the number of market participants was much lower. Now everyone is in the crypto game; did you know Binance, a year-old exchange, already ranks as a top site in the US and top globally?
Yeah, the market has certainly matured since then and we can anticipate a bear cycle to run through faster this time around. It failed to keep the strong buying power and formed a double top in January; after the double top and drop in buy volume… we knew the trend reversed to bearish. February started off with a big dump. Both are exceedingly bearish. The inverse cup-and-handle formation broke to the downside. We saw volume die off as the price tried to double bottom but ended up forming a handle as BTC failed to make higher highs — after raising a bull flag near the end of March.
The breakdown price coincided with the death cross moment almost perfectly… Giving us major fuel for a new, quick downtrend. This pivotal cracking point was the last major bearish cross. We managed to trade above the day moving average again.
This feat is minor in comparison to the much bigger goal — we need to kill the day ema resistance level on the weekly chart and turn it into support. Once that happens, we can start plotting new up waves and look to sell the pops and buy the pullbacks as the market pushes up. That tough day EMA on the weekly chart has been a real challenge. This move failed as the resistance line made its way lower. That moment was the biggest indicator of a bullish reversal and the market completely rejected it and continued on with the long-term downtrend.
The harsh rejection at the day EMA is an indicator that we are still overpriced. The market has sufficient fuel for a further push down. Another retest of this descending triangle is imminent at this point. The market could certainly lay down for a while. Without a doubt, crypto was overbought at inflated prices last year. This bear market could be very real, even with all the institutional interest. However , one surefire catalyst for a price reversal is an approved Bitcoin ETF.
The bear market already brought us down significantly from the December all-time-high. We know the next Bitcoin halving is on the horizon. The last one made a big impact on market sentiment. We can expect the same to happen… The halving is estimated to occur in May of but remember that prices could rise ahead of time in anticipation of the reduced supply. Most certainly, it will take a huge catalyst halving, ETF, etc. Trade cautiously as volatility can run very high in the near future.
Look for indicators of a bullish reversal on the weekly. Bitmex, Bitfinex, and OKEx are three leading crypto exchanges with leverage trading available. These platforms have handled eight and nine-figure liquidations this year.